S 25-12. The following table gives the payoffs of three acts A1, A, and A3 and the states of nature S1, gand S3 along with the probability distribution for various combinations (S; A;);i, j = 1 ,2, 3. Acts Probabilities States of Nature A, A2 A, A2 A3 10 - 10 60 0-65 0-60 0-35 S2 20 20 20 0-20 0-25 0-45 S3 30 40 20 0.15 0-15 0-20 Calculate and tabulate the EMV for each act and using the EMV criterion, obtain the best act.
S 25-12. The following table gives the payoffs of three acts A1, A, and A3 and the states of nature S1, gand S3 along with the probability distribution for various combinations (S; A;);i, j = 1 ,2, 3. Acts Probabilities States of Nature A, A2 A, A2 A3 10 - 10 60 0-65 0-60 0-35 S2 20 20 20 0-20 0-25 0-45 S3 30 40 20 0.15 0-15 0-20 Calculate and tabulate the EMV for each act and using the EMV criterion, obtain the best act.
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![S, 25-12. The following table gives the payoffs of three acts A1, A, and A3 and the states of
nature S, Aand S3 along with the probability distribution for various combinations (S; A);i, j= 1 , 2, 3.
Acts
Probabilities
States of Nature
A2
A3
A,
A2
A3
10
- 10
60
0.65
0-60
0-35
S2
20
20
20
0-20
0-25
0-45
S3
30
40
0 20
0.15
0-15
0-20
Calculate and tabulate the EMV for each act and using the EMV criterion, obtain the best act.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7691633c-32d7-43bf-8d3c-829f91804428%2Fcd7a4140-2af7-4875-9721-7056ddc67546%2Fe93lg0v_processed.jpeg&w=3840&q=75)
Transcribed Image Text:S, 25-12. The following table gives the payoffs of three acts A1, A, and A3 and the states of
nature S, Aand S3 along with the probability distribution for various combinations (S; A);i, j= 1 , 2, 3.
Acts
Probabilities
States of Nature
A2
A3
A,
A2
A3
10
- 10
60
0.65
0-60
0-35
S2
20
20
20
0-20
0-25
0-45
S3
30
40
0 20
0.15
0-15
0-20
Calculate and tabulate the EMV for each act and using the EMV criterion, obtain the best act.
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