The following payoff table was developed. Let the probability of state of natures are as follows: P(S1) = 0.30, P(S2) = 0.40, and P(S3) = 0.30. Compute the expected monetary value for each of  the alternatives. What decision would you recommend? Alternative     S1     S2       S3 A1                   80     92       94 A2                   82     80       85 A3                   67     70       72 A4                   45     69       54

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Chapter1: Combinatorial Analysis
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The following payoff table was developed. Let the probability of state of natures are as follows:
P(S1) = 0.30, P(S2) = 0.40, and P(S3) = 0.30. Compute the expected monetary value for each of  the alternatives. What decision would you recommend?


Alternative     S1     S2       S3
A1                   80     92       94
A2                   82     80       85
A3                   67     70       72
A4                   45     69       54

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