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Three decision makers have assessed utilities for the following decision problem (payoff in dollars): State of...

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Basic Math

Three decision makers have assessed utilities for the followingdecision problem (payoff in dollars): State of Nature DecisionAlternative S1 S2 S3 d1 10 60 -20 d2 90 100 -80 The indifferenceprobabilities are as follows: Indifference Probability (p) PayoffDecision maker A Decision maker B Decision maker C 100 1.00 1.001.00 90 0.95 0.80 0.85 60 0.85 0.70 0.75 10 0.75 0.55 0.60 -20 0.600.25 0.50 -80 0.00 0.00 0.00 Find a recommended decision for eachof the three decision makers, if P(s1) = 0.30, P(s2) = 0.55, andP(s3) = 0.15. (Note: For the same decision problem, differentutilities can lead to different decisions.) If required, round youranswers to two decimal places. Decision maker A EU(d1) = _______EU(d2) = _______ Recommended decision: _______ Decision maker BEU(d1) = _______ EU(d2) = _______ Recommended decision: _______Decision maker C EU(d1) = _______ EU(d2) = _______ Recommendeddecision: _______

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