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poorman poorman
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7 years ago
Consider the following payoff table that represents the profits earned for each alternative (A, B, and C) under the states of nature S1, S2, and S3.  What is the expected value under certainty? Assume P(S1) = 0.5 and P(S2) = 0.25.

      S1   S2   S3
       A      $100   $145   $120
       B      $75   $125   $110
       C      $95   $85   $60

a.   $120.25
b.   $118.25
c.   $145
d.   $116.25
e.   $100
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Managerial Decision Modeling with Spreadsheets

Managerial Decision Modeling with Spreadsheets


Edition: 3rd
Authors:
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GrunterGrunter
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