# Determining the probability of S1

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States A1 A2 A3

1 12 -2 8

2 4 10 5

Where; S1 is State of Nature 1, A1 is Action Alternative 1

S2 is State of Nature 2, A2 is Action Alternative 2

A3 is Action Alternative 3

Referring to the table above, if the probability of S1 is 0.5, then the expected monetary value (EMV) of A1 is:

a) 3

b) 4

c) 6.5

d) 8

https://brainmass.com/statistics/probability/determining-probability-156630

#### Solution Summary

Referring to the table above, if the probability of S1 is 0.5, then the expected monetary value (EMV) of A1 is:

$2.49