Video Business
A high school student,who started doing videos as a hobby,is considering going into the videography business.The anticipated payoff table is: The following prior probabilities are assigned to the states of nature: P(poor)= 0.4,P(fair)= 0.4,and P(super)= 0.2.
-{Video Business Narrative} Calculate the expected opportunity loss for each act with present information.What decision should be made using the EOL criterion?

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Video Business
 A high school student,who started doing videos as a hobby,is considering going into the videography business.The anticipated payoff table is:  The following prior probabilities are assigned to the states of nature: P(poor)= 0.4,P(fair)= 0.4,and P(super)= 0.2. ​ ​
-{Video Business Narrative} Calculate the expected opportunity loss for each act with present information.What decision should be made using the EOL criterion?

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The Answer of  Video Business
 A high school student,who started doing videos as a hobby,is considering going into the videography business.The anticipated payoff table is:  The following prior probabilities are assigned to the states of nature: P(poor)= 0.4,P(fair)= 0.4,and P(super)= 0.2. ​ ​
-{Video Business Narrative} Calculate the expected opportunity loss for each act with present information.What decision should be made using the EOL criterion?

Video Business a High School Student,who Started Doing Videos as a as a Hobby,is