The national sales manager for "I colored this" (ICT) T-shirts provides all salespersons with the payoff table shown next, giving the estimated profit when a retailer purchases from one to four dozen T-shirts. The probability of demand for each state of nature is also shown. What is the expected payoff for purchasing three dozen T-shirts?
A) 72
B) 120
C) 168
D) 192

Question

The national sales manager for "I colored this" (ICT) T-shirts provides all salespersons with the payoff table shown next, giving the estimated profit when a retailer purchases from one to four dozen T-shirts. The probability of demand for each state of nature is also shown.  What is the expected payoff for purchasing three dozen T-shirts?
A) 72 
B) 120 
C) 168 
D) 192

Quizplus · Accepted Answer

The Answer of The national sales manager for "I colored this" (ICT) T-shirts provides all salespersons with the payoff table shown next, giving the estimated profit when a retailer purchases from one to four dozen T-shirts. The probability of demand for each state of nature is also shown.  What is the expected payoff for purchasing three dozen T-shirts?
A) 72 
B) 120 
C) 168 
D) 192

The National Sales Manager for "I Colored This" (ICT) T-Shirts