descriptive statistics : Calculation of utility for the pay off by ClassOf1

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									              Sub: Statistics                                                        Topic: Decision Analysis



              Question:
              Calculate the utility for the pay off and give a summary.

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              Chez Paul is contemplating either opening another restaurant or expanding its existing location.
              The payoff table for these two decisions is:


                                                                    s1                s2              s3
                                    New Restaurant                  -$80K             $20K            $160K
                                    Expand                          -$40K             $20K            $100K


              Paul has calcul
								
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