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Below is a payoff table involving three states of nature and two decision alternatives. Decision States of Nature Alternative A8045-20 B405015 P()=.1, P()=.6 and P()=.3
Below is a payoff table involving three states of nature and two decision alternatives.
DecisionStates of Nature
Alternative
A8045-20
B405015
P()=.1, P()=.6 and P()=.3
The expected value of the best alternative equals _____.
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