Find out the value of p based on the expected values

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Reference no: EM1317762

If p is the probability of Event 1 and (1-p) is the probability of Event 2, based on the expected returns, for what values of p would you select A? B? C? Values in the table are payoffs.

Choice/Event	Event 1	Event 2
A	0	20
B	4	16
C	8	0

Reference no: EM1317762

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