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Statistics decision analysis : Calculation of utility values for indifference probabilities

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

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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?
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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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