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Exhibit 20-3 Below You Are Given a Payoff Table Involving Two States

Question 17

Multiple Choice

Exhibit 20-3
Below you are given a payoff table involving two states of nature and three decision alternatives. Exhibit 20-3 Below you are given a payoff table involving two states of nature and three decision alternatives. The probability of the occurrence of state of nature S<sub>1</sub> is 0.4. -Refer to Exhibit 20-3. The expected value of the best alternative equals A) 13,000 B) 14,000 C) 15,000 D) 16,000 The probability of the occurrence of state of nature S1 is 0.4.
-Refer to Exhibit 20-3. The expected value of the best alternative equals


A) 13,000
B) 14,000
C) 15,000
D) 16,000

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