Use the following payoff table to determine the answers to the following questions . Assume P(S_{1}) = 0.3 , P(S_{2}) = 0.05 and P(S_{3}) = 0.65 Round all numbers to two decimal places and don't forget your units. State of Nature Decision S_{1}; S_{2}; S_{3} Choice 1$380$350 $270 $320 Choice 2$250$300 $450 Choice 3 $ 300 $400 a) Calculate the expected monetary value of Choice 1. Round to two decimal places. b) Calculate the expected monetary value of Choice 2. Round to two decimal places . (c) Calculate the expected monetary value of Choice 3. Round to two decimal places.(d) which choice has the maximum expected payoff?(e) What is the expected value of perfect information? (f) which choice would you make if you were using the maximum strategy?

Implementing a Diversity Ecosystem: Challenges and Opportunities Recent calls for racial justice and increased diversity in cities across the United States vowed to increase diversity, equity, and Whether their intentions were politically motivated, sincere, or a combination of both, implementation of increased diversity and counties has been challenging and slow, For example, established municipal rules, including low-bidder laws, have created entrenched system for purchesing services for menufactured goods, rogd repgir, and construction projects that favors larger co At the same time, cities are often understaffed, and employees are paid below market value. Yet, government employees are tas the challenge to increase diversity and do it quickly. Consider, for example, a typical medium-sized city in the United States. The population is 52 percent African Americans, 46 pe white, and 4 percent other, including Asians and Latinos. Suppliers to the City's purchasing department, however, are 87 pereen and 13 percent African Americen. These suppliers range from businesses that manufacture products needed by local police and departments, to construction compenies for municipal projects and road work. In this typical city, the Mayor and City Council have met and discussed the need to implement programs that encourage more div equity, and inclusion in selecting Purchasing Department suppliers. Council members have been watching recent moves to expand diversity in cities around the country; and their constituents are asking for more diversity in the city. The Major and City Council members want to get re-elected, and they recognize altering diversity of among city employees will be slower than increasing divers smong suppliers. The Merketing Team was asked to communicate these efforts to city and county employees. They believe this would encourage city employees to more strongly support diversity efforts in the purchasingepepartment, as well as other departments making purchases city funds. Not surprisingly, the employees greet this message from the marketing team with skepticism. For example, other dictates