Consider the following payoff table. Based upon these probabilities, a person would select Alternative 2. Suppose there is concern about the accuracy of these probabilities. It can be stated that Alternative 2 will remain the best alternative as long as the probability of A is at least
A) 0.33.
B) 0.50.
C) 0.40.
D) 0.60.
E) None of the above

Question

Consider the following payoff table.  Based upon these probabilities, a person would select Alternative 2. Suppose there is concern about the accuracy of these probabilities. It can be stated that Alternative 2 will remain the best alternative as long as the probability of A is at least
A) 0.33. 
B) 0.50. 
C) 0.40. 
D) 0.60. 
E) None of the above

Quizplus · Accepted Answer

The Answer of Consider the following payoff table.  Based upon these probabilities, a person would select Alternative 2. Suppose there is concern about the accuracy of these probabilities. It can be stated that Alternative 2 will remain the best alternative as long as the probability of A is at least
A) 0.33. 
B) 0.50. 
C) 0.40. 
D) 0.60. 
E) None of the above

Consider the Following Payoff Table