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Consider Bob's decision problem: Sunny Cloudy Rainy Beach 2 3 2 Park 3 3 2 Mall -2 X Suppose the probability of Sunny is 0.25,
Consider Bob's decision problem: Sunny Cloudy Rainy Beach 2 3 2 Park 3 3 2 Mall -2 X Suppose the probability of Sunny is 0.25, the probability of Cloudy is 0.25, and the probability of Rainy is 0.5. What is the smallest value of x for which Mall is an expected utility maximiser (that is, Mall is at least the equal-best choice)? Round your answer to one decimal place (e.g. 0.5)
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