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Assuming the following payoff (profit) table for two alternatives and three states of natures, Probabilities for SONs are also shown in the table. What is
Assuming the following payoff (profit) table for two alternatives and three states of natures, Probabilities for SONs are also shown in the table. What is the expected payoff for the best choice under the Expected Value Strategy? Enter your answer with 1 decimal. Probability 0.2 0.7 0.1 SON1 SON2 SON3 Alt A 17 23 12 Alt B 4 22 26
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