What is the optimal decision as a function of p

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Recreation Choices: A player has three possible activities from which to choose: going to a football game, going to a boxing match, or going for a hike. The payoff from each of these alternatives will depend on the weather. The following table gives the agent's payoff in each of the two relevant weather events:

Let p denote the probability of rain.

a. Is there an alternative that a rational player will never take regardless of p?

b. What is the optimal decision as a function of p?

Reference no: EM131246635

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What is the optimal decision as a function of p : Is there an alternative that a rational player will never take regardless of p?

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