Data in the matrix below indicates COST expected from 3 alternatives under 4 states of nature. Determine which alternative is dominant using With and Without Probability (use a = 0.3 and probability of: 30%, ; 20%; 40% & 10% for S1, s2, 53, and S4 respectively): Alternatives S2 S3 SA A1 10 20 18 15 A2 12 15 25 20 A3 15 18 19 25

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Data in the matrix below indicates COST expected from 3 alternatives under 4 states of nature. Determine which alternative is dominant using With and Without Probability 

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4) Data in the matrix below indicates COST expected from 3 alternatives under 4 states of nature. Determine
which alternative is dominant using With and Without Probability (use a = 0.3 and probability of: 30%, ;
20%; 40% & 10% for S1, 52, S3, and S4 respectively):
Alternatives
S1
S2
S3
S4
A1
10
20
18
15
A2
12
15
25
20
A3
15
18
19
25
Transcribed Image Text:4) Data in the matrix below indicates COST expected from 3 alternatives under 4 states of nature. Determine which alternative is dominant using With and Without Probability (use a = 0.3 and probability of: 30%, ; 20%; 40% & 10% for S1, 52, S3, and S4 respectively): Alternatives S1 S2 S3 S4 A1 10 20 18 15 A2 12 15 25 20 A3 15 18 19 25
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