The payoff table for three possible courses of action is given below. Which of the three actions will produce the largest expected value? What is it? P₁ .2 .4 .3 .1 A₁ Xi $500 $1,200 $1,200 $1,200 A₂ Xi $ 400 $1,100 $1,800 $1,800 A3 Xi $300 $1,000 $1,700 $2,400

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