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Please help! The question is in the first picture and the questions in the second!
29 In a certain state lottery, a lottery ticket costs $2. In terms of the decision to purchase or not to purchase a lottery ticket, suppose the following payoff table (in S) applies: State of Nature Win Lose Decision Alternative Purchase lottery ticket, d Do not purchase lottery ticket, d 300,000 -2
Assignment: Lottery Problem, question 29, page 512, but answer the questions below instead of the ones in the book: If you use the Expected Value approach, what decision would you make? .Repeat for the optimistic, pessimistic, and Minimax Regret approaches. Show your work and explain your decision for each approach. Complete your model (Excel file) and complete the Model Quiz
math   Statistics-And-Probability   
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2S0000 - 0 00004 E U (d) 0000 Purchae d Do not pwtchai 2 10,000001 10:000001 Thrrelore aters licket

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