Matrix below indicates PROFIT expected from 4 alternatives under 4 states of nature. Determine which alternative is dominant using With and Without Probability (use a = 0.3 and probability of: 30%, ; 20%; 40% & 10% for S1, S2, S3, and S4 respectively): Alternatives A1 A2 S4 15 20 25 S1 10 S2 S3 18 25 20 12 15 A3 15 18 19 A4 13 16 30 18
Matrix below indicates PROFIT expected from 4 alternatives under 4 states of nature. Determine which alternative is dominant using With and Without Probability (use a = 0.3 and probability of: 30%, ; 20%; 40% & 10% for S1, S2, S3, and S4 respectively): Alternatives A1 A2 S4 15 20 25 S1 10 S2 S3 18 25 20 12 15 A3 15 18 19 A4 13 16 30 18
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![3) Matrix below indicates PROFIT expected from 4 alternatives under 4 states of nature. Determine
which alternative is dominant using With and Without Probability (use a = 0.3 and probability of:
30%, ; 20%; 40% & 10% for S1, S2, S3, and S4 respectively):
Alternatives
S1
S2
S3
S4
A1
10
20
18
15
A2
12
15
25
20
АЗ
15
18
19
25
A4
13
16
30
18
4)
Data in tho matriv holow indicntos CO ST ovn octod from 2 altornntivoc undor 4 statoc of nnturo](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff08ef437-bcba-4cdf-b30e-b18a42ce6d18%2F2249c0e6-bf5d-48b3-a322-85aae13b05a9%2Fm0iwwju_processed.jpeg&w=3840&q=75)
Transcribed Image Text:3) Matrix below indicates PROFIT expected from 4 alternatives under 4 states of nature. Determine
which alternative is dominant using With and Without Probability (use a = 0.3 and probability of:
30%, ; 20%; 40% & 10% for S1, S2, S3, and S4 respectively):
Alternatives
S1
S2
S3
S4
A1
10
20
18
15
A2
12
15
25
20
АЗ
15
18
19
25
A4
13
16
30
18
4)
Data in tho matriv holow indicntos CO ST ovn octod from 2 altornntivoc undor 4 statoc of nnturo
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