Expected values of each choice using given probabilities

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Reference no: EM131151784

Norrington Airport has begun to take in regional jet flights, and needs to expand its air traffic control facilities. It has received three proposals from different agencies for how it can proceed to modernize its facilities. They make a payoff table, shown below. Calculate the expected values of each choice using the given probabilities.

Decision Increased demand (0.72) Current demand (0.28)

Plan A $34,040 -$325,200

Plan B $65,700 -$126,000

Plan C $12,800 -$96,000

Reference no: EM131151784

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