Consider the following decision scenario: $$\begin{array} { | l | l | l | l | l | }
\hline { \text { Alternative } } & { \text { State of Nature } } & & \
\hline & \# 1 & \# 2 & \# 3 & \# 4 \
\hline \text { A } & 1 & 0 & 1 & 6 \
\hline \text { B } & 1 & 5 & 4 & 2 \
\hline \text { C } & 3 & 2 & 2 & 3 \
\hline
\end{array}$$ If somehow you find out for certain that state of nature 4 is going to occur, which alternative will you select?

Question

Consider the following decision scenario: $$\begin{array} { | l | l | l | l | l | } 
\hline  { \text { Alternative } } &  { \text { State of Nature } } & & \
\hline & \# 1 & \# 2 & \# 3 & \# 4 \
  \hline \text { A } & 1 & 0 & 1 & 6 \
\hline \text { B } & 1 & 5 & 4 & 2 \
\hline \text { C } & 3 & 2 & 2 & 3 \
\hline
\end{array}$$ If somehow you find out for certain that state of nature 4 is going to occur, which alternative will you select?

Quizplus · Accepted Answer

The Answer of Consider the following decision scenario: $$\begin{array} { | l | l | l | l | l | } 
\hline  { \text { Alternative } } &  { \text { State of Nature } } & & \
\hline & \# 1 & \# 2 & \# 3 & \# 4 \
  \hline \text { A } & 1 & 0 & 1 & 6 \
\hline \text { B } & 1 & 5 & 4 & 2 \
\hline \text { C } & 3 & 2 & 2 & 3 \
\hline
\end{array}$$ If somehow you find out for certain that state of nature 4 is going to occur, which alternative will you select?

Consider the Following Decision Scenario If Somehow You Find Out for Certain That State of l