If the probabilities of s1, s2, and s3 are 0.2, 0.4, and 0.4, respectively, then what decision should be made under expected value?

Use the following table to answer the question(s) below.

s1 s2 s3
d1 10 8 6
d2 14 15 2
d3 7 8 9

Answer:
Ev(d1) = 7.6
Ev(d2) = 9.6 (best)
Ev(d3) = 8.2

Business

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