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A farmer must choose whether to treat their crop to protect against insect infestation. The possible alternatives, outcomes, and payoffs ($ profit/acre) for this problem are illustrated in the payoff matrix given below. Apply the safety-first rule to this problem. Which alternative would the farmer choose? Weather Outcome Probability Treat Do Not Treat Infestation Occurs 0.20 $105 $60 No Infestation 0.80 $105 $120

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