Alternatives onthe basis of expected value

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Reference no: EM13127452

A decision maker who is considered to be a risk taker is faced with this set of probabilities and payoffs.

State of Nature

Decision s1 s2 s3

d1 5 10 20

d2 -25 0 50

d3 -50 -10 80

probability 0.30 0.35 0.35

Rank the decision alternatives onthe basis of expected value.

Reference no: EM13127452

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