ions Animations Slide Show Review View ? Tell me Share Comments " A" A" A Shape Fill B I U ab x x2 AY ~ Aav DAY Convert to Picture Shapes Text Arrange Quick Shape Outline v Design SmartArt Box Styles Ideas Learning Activity: The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature State of nature Decision alternative S1 $2 S3 d1 210 150 -30 d2 170 200 20 If the decision maker estimates the following probabilities for the three states of nature; P(s1) = 0.2, P($2) = 0.5 and P(s3) = 0.3 EV approach (i) Find the best decision to be made. Include the risk profile associated with your choice. (ii) Find the expected value of perfect information. EVWPI - EV wo PI (ii) If the probability info were not available, what decision would have been best according to the conservative approach? But F worst Welcome back! ccessibility: Investigate Notes Comments + 112% ? ? 4 ?On