Exhibit 20-4 Below is a payoff table involving two states of nature and three decision alternatives. Decision States of Nature Alternative s1 s2 A 15   12   B 16   12   C 20   6   The probability of occurrence of s1 = .3. Refer to Exhibit 20-4. The expected value of alternative C is _____.   a. 12.9     b. 13.2     c. 10.2     d. 26

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