Woc01-2017ASP/Online April 24 April 30 Final Exam Question 21 The following payo

Question

Woc01-2017ASP/Online April 24 April 30 Final Exam Question 21 The following payoff table gives several strategic atematives, severa states of nature, the probabilities of the states and the corresponding payoffs. Not yet State 1 State 2State 3 answered Alternative 1-82 65 -25 Points out of Alternative 27 62 77 Alternative 399 -33 77 r Remove flag Probabilities 0.17 Maximum ukelihood Decision criteria. Enter the payoff value that made the decision. Find the best alternative using the Next page Previous page You are logged in as Jayson Hinkle (Log out) MGT 340VLECT/OC01-2017/SPWOnline

Explanation / Answer

According to the maximum likelihood decision we see that the maximum likelihood state that will take place is that with the highest probability that is state 1 here . The highest payoff in case of state 1 is that for alternate 3 that is equal to 99.

Therefore 99 is the required payoff here.

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