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Question
A decision maker has prepared the following decision tree. There are two main decision alternatives (A and B). The probabilities for the states of nature are as follows: P(H) = .3, P(M) = .5, P(L) = .2, P(S) = .25, P(P) = .75. Calculate the highest expected profit for the decision maker and determine which of the two alternatives he/she should select.
Answer
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A. average
B. median
C. sum
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Q:
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Q:
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