Question

describe joint probability for independent events and give an example of how you would calculate it. How is this different than conditional probability? The following payoff table gives the return on three alternative business decisions based on three possible scenarios – down, neutral or up. P(down), or the probability that the scenario is down = 0.30, P(neutral) = 0.50, and P(up) = 0.20. Based on this information, calculate the expected return for each alternative. What alternative would you recommend

Answer 1

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