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PHIL 1115: Homework 12
1. The decision matrix below represents the value of each possible action Â₁ to Â₁
under the circumstances that Q, R, or S occur - these events are mutually exclusive
and exhaustive. Calculate the expected value of each act given the decision matrix
below and the probabilities Pr(Q) = 1/6, Pr(R) = 1/3, Pr(S) = 1/2. Which
action has the highest expected value?
QRS
A₁ -2 1 5
A2 -4 10 -2
A3 8 0 -1
Â₁-2 0 4