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Calculate the Expected Payoff for the Following Cases with the Formula

Question 38

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Calculate the expected payoff for the following cases with the formula: (P1)* (payoff if state 1)+ (P2)* (payoff if state 2),where P1 and P2 are the probabilities of state 1 and 2,respectively. Calculate the expected payoff for the following cases with the formula: (P1)* (payoff if state 1)+ (P2)* (payoff if state 2),where P1 and P2 are the probabilities of state 1 and 2,respectively.

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