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2. Space engineers have three alternative designs for the configuration of a component for an unmanned space shuttle. The space vehicle is likely to encounter

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2. Space engineers have three alternative designs for the configuration of a component for an unmanned space shuttle. The space vehicle is likely to encounter one of four different conditions, which have probabilities of occurrence as listed in the following payoff table with the payoffs for each combination of design and state of nature. Additional data from previous flights are available but will require additional expenditures to analyze. However, the project director is confident that analysis of the data will clearly indicate which state of nature will be encountered. What amount would be justified for the data analysis? States of Nature B D 3 + 2 1 Probability: 001 002 Design 20* 10 10 0 10 0 40 15 10 003 20 30 30 In $ hundreds 2. Space engineers have three alternative designs for the configuration of a component for an unmanned space shuttle. The space vehicle is likely to encounter one of four different conditions, which have probabilities of occurrence as listed in the following payoff table with the payoffs for each combination of design and state of nature. Additional data from previous flights are available but will require additional expenditures to analyze. However, the project director is confident that analysis of the data will clearly indicate which state of nature will be encountered. What amount would be justified for the data analysis? States of Nature B D 3 + 2 1 Probability: 001 002 Design 20* 10 10 0 10 0 40 15 10 003 20 30 30 In $ hundreds

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