Hobby Shop
A payoff table and the prior probabilities for two states of nature for a Hobby Shop are shown below: Payoff Table: Prior Probabilities: P(s 1 )= 0.4,and P(s 2 )= 0.6.
-{Hobby Shop Narrative} Set up the opportunity loss table.

Question

Hobby Shop
 A payoff table and the prior probabilities for two states of nature for a Hobby Shop are shown below: Payoff Table:  Prior Probabilities: P(s 1 )= 0.4,and P(s 2 )= 0.6. ​ ​
-{Hobby Shop Narrative} Set up the opportunity loss table.

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The Answer of  Hobby Shop
 A payoff table and the prior probabilities for two states of nature for a Hobby Shop are shown below: Payoff Table:  Prior Probabilities: P(s 1 )= 0.4,and P(s 2 )= 0.6. ​ ​
-{Hobby Shop Narrative} Set up the opportunity loss table.

Hobby Shop a Payoff Table and the Prior Probabilities for Two