What is the optimal action using the EMV criterion?
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EVENT PROBABILITY ACTION A ACTION B
1 0.5 400 700
2 0.5 200 500
Referring to the table above, what is the optimal action using the EMV criterion?
ACTION A
ACTION B
EITHER ACTION A OR B
IT CANNOT BE DETERMINED FROM THE INFO GIVEN
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Solution Summary
Referring to the table above, what is the optimal action using the EMV criterion?
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