1. Use the following table to answer a-d. The payoffs are in BENEFITS. a. In a...

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1. Use the following table to answer a-d. The payoffs are in BENEFITS. a. In a...

1. Use the following table to answer a-d. The payoffs are in BENEFITS.

a. In a situation of uncertainty, what is the best alternative? [Use the expected value criteria to find the associated payoffs for each alternative and choose the best one.]

	S1 (p=.25)	S2 (p= )	S3 (p=.25)	S4 (p=.2)
A1	30	10	30	30
A2	0	65	35	15
A3	15	45	10	10
A4	35	25	15	10

b. Construct a regret table using the table above. (1 point)

	S1	S2	S3	S4
A1
A2
A3
A4

c. Using EOL, what is the best alternative and associated payoff?

d. Calculate the expected value of perfect information

math Statistics-And-Probability

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30 (o ィの1レ (b) Re vet tuldu 3o65-65- o and atrol sing

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Add Answer to: 1. Use the following table to answer a-d. The payoffs are in BENEFITS. a. In a...

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