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Mickey lawson is considering investing some money

03/05/2021 Client: muhammad11 Deadline: 2 Day

Mickey Lawson is considering investing some money that he inherited. The following payoff table gives the profits that would be realized during the next year for each of three investment alternatives Mickey is considering:

Mickey Lawson is considering investing some money that he inheri

(a) What decision would maximize expected profits?
(b) What is the maximum amount that should be paid for a perfect forecast of theeconomy?

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