Instruction 17-3
The following payoff matrix is given in dollars.
Suppose the probability of Event 1 is 0.5 and Event 2 is 0.5.
-Referring to Instruction 17-3,what is the optimal action using the expected monetary value (EMV)criterion?
A)Action A.
B)Action B.
C)Either Action A or Action B.
D)It cannot be determined.

Question

Quizplus · Accepted Answer

The Answer of Instruction 17-3
The following payoff matrix is given in dollars.
Suppose the probability of Event 1 is 0.5 and Event 2 is 0.5.
-Referring to Instruction 17-3,what is the optimal action using the expected monetary value (EMV)criterion?
A)Action A.
B)Action B.
C)Either Action A or Action B.
D)It cannot be determined.

Instruction 17-3 The Following Payoff Matrix Is Given in Dollars