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Demolition Company The Payoff Table and the Prior Probabilities for Three States

Question 53

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Demolition Company
The payoff table and the prior probabilities for three states of nature for a demolition company are shown below: Demolition Company The payoff table and the prior probabilities for three states of nature for a demolition company are shown below: Prior Probabilities: P(s<sub>1</sub>)= 0.4,P(s<sub>2</sub>)= 0.5,and P(s<sub>3</sub>)= 0.1. ​ ​ -{Demolition Company Narrative} Determine the EOL decision. Prior Probabilities: P(s1)= 0.4,P(s2)= 0.5,and P(s3)= 0.1. ​ ​
-{Demolition Company Narrative} Determine the EOL decision.

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EOL (a1)= (0.4)(40)+ (0.5)(110)...

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