Consider the following payoff matrix for a decision-making problem: Determine the best alternative as a function of

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Consider the following payoff matrix for a decision-making problem:

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Determine the best alternative as a function of \(P\left(\theta_{1}\right)=p\), where \(0 \leq p \leq 1\). What is the best alternative for \(p=0.3\) ? What is the value of perfect information for \(p=0.3\) ?

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