The following payoff table (in thousands of dollars) considers three possible levels of demand in a housing complex.If there is a 45% chance that the demand level will be low, 30% that it will be medium and 25% chance that it will be high, the expected value (in thousands of dollars) associated with the best action is ________________________ .

A)$208.75
B)$225
C)$310
D)$326.25
E)$535

Question

The following payoff table (in thousands of dollars) considers three possible levels of demand in a housing complex.If there is a 45% chance that the demand level will be low, 30% that it will be medium and 25% chance that it will be high, the expected value (in thousands of dollars) associated with the best action is ________________________ .
The following payoff table (in thousands of dollars) considers three possible levels of demand in a housing complex.If there is a 45% chance that the demand level will be low, 30% that it will be medium and 25% chance that it will be high, the expected value (in thousands of dollars) associated with the best action is ________________________ . A) $208.75 B) $225 C) $310 D) $326.25 E) $535

A)$208.75 
B)$225 
C)$310 
D)$326.25 
E)$535

Quizplus · Accepted Answer

The Answer of The following payoff table (in thousands of dollars) considers three possible levels of demand in a housing complex.If there is a 45% chance that the demand level will be low, 30% that it will be medium and 25% chance that it will be high, the expected value (in thousands of dollars) associated with the best action is ________________________ .

A)$208.75 
B)$225 
C)$310 
D)$326.25 
E)$535

The Following Payoff Table (In Thousands of Dollars) Considers Three