Question

Expected opportunity loss and emv can be calculated when probability is to each states of nature​

Answer 1

Answer: Here you go!

Step-by-step explanation:

Multiply the probability of each event times the expected losses. Referring to the Opportunity Loss table that you calculated above, multiply each of the predicted losses times the probability of that loss occurring. For example, the top row represents the low demand market, which has a probability of 0.4

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