Below you are given a payoff table involving three states of nature and two decision alternatives.The probability that s1 will occur is 0.2; the probability that s2 will occur is 0.6.What is the expected value of the best decision?4841120429Decisiond1d2States of Nature.s2s180404550s3-2015

The question is about decision makingGiven :P ( s1 ) = 0.2P ( s2 ) = 0.6To find :Expected value of…

Answered: Below you are given a payoff table…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are spades, your friend will pay you $⁢19. Otherwise, you have to pay your friend $4$. Step 1 of 2 : What is the expected value of your bet? Round your answer to two decimal places. Losses must be expressed as negative values. .
Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are clubs, your friend will pay you $⁢41 . Otherwise, you have to pay your friend $⁢5 . Step 1 of 2 : What is the expected value of your bet? Round your answer to two decimal places. Losses must be expressed as negative values.
I need help with this question 14 with a b and c
Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are diamonds, your friend will pay you $139. Otherwise, you have to pay your friend $7. Step 1 of 2: What is the expected value of your bet? Round your answer to two decimal places. Losses must be expressed as negative values. Answer E Tables E Keypad How to enter your answer Keyboard Shortcuts
A psychology professor is studying whether a significant difference exists in the majors among students in her general psychology course. She splits majors into humanities, sciences, and business. If there are 75 students in her class, and the expected value of humanities majors is 16.7 and the expected value of sciences is 47.8, what is the expected frequency of business majors? a. 35.85 b. 10.50 c. 7.88 d. 12.53
Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are spades, your friend will pay you $⁢7. Otherwise, you have to pay your friend $2. Step 1 of 2 : What is the expected value of your bet? Round your answer to two decimal places. Losses must be expressed as negative values.
R3
PLEASE SHOW COMPLETE SOLUTION
Brandon is setting up his own carnival game. His plan is to make sure that the game has a negative expected value, because that will be the most beneficial for his own profit. He decides to set the following rules. You pay $10 to play, and then you get to throw one dart at a dartboard. The dartboard is broken up into 8 equally sized sections. 3 of the sections are red. 4 of the sections are blue. 1 of the sections is green. If your dart hits the green section, Brandon hands you $30. If your dart hits any of the red sections, he gives you $15. If your dart hits any of the blue sections, you win nothing. What is the expected value for one turn? (Just write the number rounded to the nearest thousandths without the dollar sign. ie. 0.123 or -0.123)
A payoff table is given as (payoffs = profits) If the probabilities of s1, s2, and s3 are .2, .4, and .4, respectively, then what decision should be made under expected value? What is the EVPI? Please answer clearly.
Consider the following table: Value of X Probability -3 0.2 -1 d 2 0.4 3 0.2 1. What is the value of d? 2. Find the expected value of X?
pls be quick

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