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The following is a payoff table giving profits for various situations. Alternatives Alternative 1 Alternative 2 Alternative 3 Do Nothing States of Nature B 100

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The following is a payoff table giving profits for various situations. Alternatives Alternative 1 Alternative 2 Alternative 3 Do Nothing States of Nature B 100 120 180 120 140 120 200 100 50 0 0 0 The probabilities for states of nature A, B, and C are 0.3, 0.5, and 0.2, respectively. If a person selected Alternative 1, what would the expected profit be? Select one: O a. 120 O b. 133.33 O c. 126 d. 180 O e. None of these

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