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The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature. Alternatives State of Nature X Y

The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature. Alternatives State of Nature X Y Z 1 12 -2 8 10 5 2 4 If the probability of S1 is 0.5, then the expected value approach for Xis 6.5 O 3 04 8

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