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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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