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Consider the following payoff table: State Decision Alternative Probabilities Decision Alternative 1 Decision Alternative 2 Decision Alternative 3 Decision Alternative 4 Poor 0.2 36 46

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Consider the following payoff table: State Decision Alternative Probabilities Decision Alternative 1 Decision Alternative 2 Decision Alternative 3 Decision Alternative 4 Poor 0.2 36 46 55 of Nature Average Good 0.5 0.3 54 21 34 32 28 30 32 55 31 What is the best decision alternative using the Expected Value criterion? 1) DA1 ) 2) DA2 3) DA3 W 4) DA4

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