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Suppose there are three possible economic conditions, S1, S2, and S3, and the three states of nature are mutually exclusive and collectively exhaustive, if P(S1)=0.5,
Suppose there are three possible economic conditions, S1, S2, and S3, and the three states of nature are mutually exclusive and collectively exhaustive, if P(S1)=0.5, P(S2)=0.15, then P(S3) is
0.35
0.15
0.5
0.30
A payoff table shows payoffs for the combination of
all decision alternatives and all states of nature. | ||
all decision alternatives and optimal states of nature. | ||
the optimal decision alternatives and optimal states of nature.
| ||
the optimal decision alternatives and all states of nature. |
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