Question

(1) Expected Monetary Value
pey of table is constructed and then probabilities are assigned to the
vents. It is to be noted that the events exhaust all possible alternatives
robabilities add to one. After this EMV is calculated for each act by multipl
ay-off values by the assigned probabilities and add the resulting values
W of the act Under this criterion the decision-maker chooses that strateg
as highest EMV
lustra 5
A newspaper boy has the following probabilities of selling a maga
No. of Copies Sold
Probability
10
0.10
0.15
12
0.20
0.25
14
0.30
Cost of copy is Rs. 3 and sale price is Rs. 5. He cannot return
opies. How many copies should he order ?
olution
13​

Answer 1

Answer:

6 copies should be ordered

not sure