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A group of investors wants to open up a jewelry store in a new shopping center. The investors are trying to decide whether to stock

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A group of investors wants to open up a jewelry store in a new shopping center. The investors are trying to decide whether to stock the store with inexpensive jewelry, medium-priced jewelry, or expensive jewelry. Their choice depends upon the economic conditions: prosperity or recession. How many states of nature are presented in this situation? 1 - to open the store or not 2 - prosperity or recession 3 -inexpensive jewelry, medium-priced jewelry, or expensive jewelry 4 - the combinations of open the store/prosperity, open the store/recession, do not open the store/prosperity, do not open the store/recession

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