What is the EMV for Option 1 in the following decision table?
$$~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~{ \text { States of Nature } } \
\begin{array} { | l | c | c | }
\hline \text { Alternatives } & \mathrm { S } _ { 1 } & \mathrm {~S} _ { 2 } \
\hline \mathrm { p } & .3 & .7 \
\hline \text { Option 1 } & 15,000 & 20,000 \
\hline \text { Option 2 } & 10,000 & 30,000 \
\hline
\end{array}$$

A) 15,000
B) 17,000
C) 17,500
D) 18,500
E) 20,000

Question

What is the EMV for Option 1 in the following decision table?
$$~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~{ \text { States of Nature } } \
\begin{array} { | l | c | c | } 
\hline \text { Alternatives } & \mathrm { S } _ { 1 } & \mathrm {~S} _ { 2 } \
\hline \mathrm { p } & .3 & .7 \
\hline \text { Option 1 } & 15,000 & 20,000 \
\hline \text { Option 2 } & 10,000 & 30,000 \
\hline
\end{array}$$

A) 15,000
B) 17,000
C) 17,500
D) 18,500
E) 20,000

Quizplus · Accepted Answer

The Answer of What is the EMV for Option 1 in the following decision table?
$$~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~{ \text { States of Nature } } \
\begin{array} { | l | c | c | } 
\hline \text { Alternatives } & \mathrm { S } _ { 1 } & \mathrm {~S} _ { 2 } \
\hline \mathrm { p } & .3 & .7 \
\hline \text { Option 1 } & 15,000 & 20,000 \
\hline \text { Option 2 } & 10,000 & 30,000 \
\hline
\end{array}$$

A) 15,000
B) 17,000
C) 17,500
D) 18,500
E) 20,000

What Is the EMV for Option 1 in the Following