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Consider Emily's decision problem, where the two states of nature are L and R: R L 2 0 0 4 Suppose the probability of L
Consider Emily's decision problem, where the two states of nature are L and R: R L 2 0 0 4 Suppose the probability of L is 0.6 and the probability of R is 1-0.6. If Emily randomises her choice so she chooses I with probability 0.6 and r with probability 1-0.6, what is her expected utility? Round your answer to two decimal places (e.g. 0.25)
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