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SOLVED: Consider the pay-off table below, with three alternatives Aj and three states of nature Sj in . Let P(S1) = 0.30, P(S2) = 0.50, P(S3) = 0.20.Alternative S1() S2() S3()A1 50 70 100A2 90 40 80A3 70 60 90Develop an opportunity loss table. (Round the final answer to the nearest dollar.)pay-off table (4 marks)Compute the expected opportunity losses for each of the alternatives. (Round the final answer to the nearest dollar.)
SOLVED: Consider the pay-off table below, with three alternatives Aj a…
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