Statistics decision analysis : Calculation of utility values for indifference probabilities by ClassOf1

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									              Sub: Statistics                                                              Topic: Decision Analysis



              Question:
              What would be the utility values for the amounts given based on the
              indifference probabilities?
         ClassOf1 provides expert guidance to College, Graduate, and High school students on homework and assignment problems in
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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          
								
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