value approach
Three decision makers have assessed utilities for the following decision problems(Payoff in Dollars):
a. Using the expected value approach, what decision do you recommend?
b. For the lottery having a payoff of $100 with probability p and $ -100 with probability
(1-p), three decision makers expressed the following indifferent probabilities.
c. If P(s1) = 0.25, P(s2) = 0.50, and P(s3) = 0.25, find a recommended decision for each of three decision makers?