EXERCISES 1. The following payoff table was developed. Let PS,)-.30, PS)-50, and PAS).20 Compute the expected monetary value for each of the alternatives. What decision would you recommend? State of Nature Alternative , 50 $70 $100 90 40 70 60 80 90 3. Refer to Exercise 1. Develop an opportunity loss table. Determine the opportunity loss for each decision. 4. Refer to Exercise 2, involving Wilhelms Cola Company. Develop an opportunity loss table, and determine the opportunity loss for each decision 5. Refer to Exercises 1 and 3. Compute the expected opportunity losses