Use the payoff matrix to determine the best strategy.
-A college is holding a rock and roll concert to be held in the stadium and has sold out all tickets. If it rains, the show will have to be moved to the gym which has a smaller seating capacity. The college must decide in advance whether to set up seats and the stage in the gym, or in the stadium, or both, just in case. The net profit in each case is given in the payoff matrix below:
According to the weather forecaster, the probability of rain is 0.1 . What strategy should the organizer choose to maximize expected profit?
A) Set up both
B) Set up in the stadium
C) Set up in the gym

Question

Use the payoff matrix to determine the best strategy.
-A college is holding a rock and roll concert to be held in the stadium and has sold out all tickets. If it rains, the show will have to be moved to the gym which has a smaller seating capacity. The college must decide in advance whether to set up seats and the stage in the gym, or in the stadium, or both, just in case. The net profit in each case is given in the payoff matrix below:
 According to the weather forecaster, the probability of rain is 0.1 . What strategy should the organizer choose to maximize expected profit?
A) Set up both 
B) Set up in the stadium 
C) Set up in the gym

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The Answer of Use the payoff matrix to determine the best strategy.
-A college is holding a rock and roll concert to be held in the stadium and has sold out all tickets. If it rains, the show will have to be moved to the gym which has a smaller seating capacity. The college must decide in advance whether to set up seats and the stage in the gym, or in the stadium, or both, just in case. The net profit in each case is given in the payoff matrix below:
 According to the weather forecaster, the probability of rain is 0.1 . What strategy should the organizer choose to maximize expected profit?
A) Set up both 
B) Set up in the stadium 
C) Set up in the gym

Use the Payoff Matrix to Determine the Best Strategy