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For the Payoff Table Below,the Decision Maker Will Use P(s1)=

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For the payoff table below,the decision maker will use P(s1)= .15,P(s2)= .5,and P(s3)= .35.
For the payoff table below,the decision maker will use P(s<sub>1</sub>)= .15,P(s<sub>2</sub>)= .5,and P(s<sub>3</sub>)= .35. a.What alternative would be chosen according to expected value? b.For a lottery having a payoff of 40,000 with probability p and -15,000 with probability (1-p),the decision maker expressed the following indifference probabilities. Let U(40,000)= 10 and U(-15,000)= 0 and find the utility value for each payoff. c.What alternative would be chosen according to expected utility?
a.What alternative would be chosen according to expected value?
b.For a lottery having a payoff of 40,000 with probability p and -15,000 with probability (1-p),the decision maker expressed the following indifference probabilities.
For the payoff table below,the decision maker will use P(s<sub>1</sub>)= .15,P(s<sub>2</sub>)= .5,and P(s<sub>3</sub>)= .35. a.What alternative would be chosen according to expected value? b.For a lottery having a payoff of 40,000 with probability p and -15,000 with probability (1-p),the decision maker expressed the following indifference probabilities. Let U(40,000)= 10 and U(-15,000)= 0 and find the utility value for each payoff. c.What alternative would be chosen according to expected utility?
Let U(40,000)= 10 and U(-15,000)= 0 and find the utility value for each payoff.
c.What alternative would be chosen according to expected utility?

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a.EV(d1)= 3250 and EV(d2)= 10750...

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