The following is a payoff table giving profits for various situations. The probabilities for states of nature A,B,and C are 0.3,0.5,and 0.2,respectively.If a person selected Alternative 1,what would the expected profit be?
A)120
B)133.33
C)126
D)180
E)None of the above

Question

The following is a payoff table giving profits for various situations.  The probabilities for states of nature A,B,and C are 0.3,0.5,and 0.2,respectively.If a person selected Alternative 1,what would the expected profit be?
A)120 
B)133.33 
C)126 
D)180 
E)None of the above

Quizplus · Accepted Answer

The Answer of The following is a payoff table giving profits for various situations.  The probabilities for states of nature A,B,and C are 0.3,0.5,and 0.2,respectively.If a person selected Alternative 1,what would the expected profit be?
A)120 
B)133.33 
C)126 
D)180 
E)None of the above

The Following Is a Payoff Table Giving Profits for Various