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Food Market The Following Table Displays the Payoffs (In Thousands of Dollars)for

Question 27

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Food Market
The following table displays the payoffs (in thousands of dollars)for five different decision alternatives under three possible states of nature for a new food market: Food Market The following table displays the payoffs (in thousands of dollars)for five different decision alternatives under three possible states of nature for a new food market: The prior probabilities of the states of nature are: P(s<sub>1</sub>)= 0.2,P(s<sub>2</sub>)= 0.3,and P(s<sub>3</sub>)= 0.5. ​ ​ -{Food Market Narrative} Convert the payoff table to an opportunity loss table. The prior probabilities of the states of nature are: P(s1)= 0.2,P(s2)= 0.3,and P(s3)= 0.5. ​ ​
-{Food Market Narrative} Convert the payoff table to an opportunity loss table.

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