The pay-offs (in$) of three acts A1,A2 and A3 and the possible states of nature S1 S2 and S3 are given below: State of nature Acts A2 A2 АЗ S1 -20 -50 200 S2 200 -100 -50 s3 400 600 300 The probabilities of the states of nature are 0.3, 0.4 and 0.3 respectively. Determine the optimal act using the expectaton principle.
The pay-offs (in$) of three acts A1,A2 and A3 and the possible states of nature S1 S2 and S3 are given below: State of nature Acts A2 A2 АЗ S1 -20 -50 200 S2 200 -100 -50 s3 400 600 300 The probabilities of the states of nature are 0.3, 0.4 and 0.3 respectively. Determine the optimal act using the expectaton principle.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.8: Probability
Problem 29E
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