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There are two states of nature

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There are two decision alternatives: A and B. There are two states of nature: 1 and 2. Alternative A has a payoff of $10,000 for state of nature 1 and $20,000 for state of nature 2. Alternative B has a payoff of $5,000 for state of nature1 and $27,500 for state of nature 2. Once the probability of state of nature 1 exceeds ______, alternative A becomes the better choice.

Reference no: EM131440508

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