Calculate the loss table from the following payoff table: PAYOFF TABLE Action Events E1 E2 Ез E4 A, 50 300 - 150 50 Az 400 100 Ag - 50 200 100 A4 300 300 (b) Suppose that the probabilities of the events in this table are: P(E1) = 0.15; P (E2) = 0.45; P (E3) = 0.25; P (E4) = 0.15 Calçulate the expected payoff and the expected loss of each action.

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Calculate the loss table from the following payoff table:
PAYOFF TABLE
Action
Events
E1
E2
E3
E4
A,
50
300
- 150
50
A2
400
100
Ag
- 50
200
100
A4
300
300
(b) Suppose that the probabilities of the events in this table are:
P(E1) = 0.15; P (E2) = 0.45; P(E3) = 0.25; P (E4) = 0.15
Calculate the expected payoff and the expected loss of each action.
Transcribed Image Text:Calculate the loss table from the following payoff table: PAYOFF TABLE Action Events E1 E2 E3 E4 A, 50 300 - 150 50 A2 400 100 Ag - 50 200 100 A4 300 300 (b) Suppose that the probabilities of the events in this table are: P(E1) = 0.15; P (E2) = 0.45; P(E3) = 0.25; P (E4) = 0.15 Calculate the expected payoff and the expected loss of each action.
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