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Refer to Exhibit 20-5. The expected value of alternative C is _____. Exhibit 20-5 Below is a payoff table involving three states of nature and

Refer to Exhibit 20-5. The expected value of alternative C is _____.

Exhibit 20-5 Below is a payoff table involving three states of nature and three decision alternatives.

Decision

States of Nature

Alternative

s1

s2

s3

A

20

10

15

B

16

5

8

C

15

25

10

The probability of occurrence of s1 is .2, and the probability of occurrence of s2 is .3.

Select one:

a. 5.5

b. 6.5

c. 5.7

d. 30

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