Instruction 17-7
the Following Payoff Table Shows Profits Associated with a Set

Short Answer

Instruction 17-7
The following payoff table shows profits associated with a set of two alternatives under three possible events.
$\begin{array} { r c c } \text { Event } & \text { Action A } & \text { Action B } \\\hline 1 & 1000 & 1200 \\2 & 500 & 700 \\3 & 300 & - 200\end{array}$
-Referring to Instruction 17-7,what is the expected profit under certainty (EPUC)for this problem?