OPPORTUNITY LOSS TABLE THIS PROGRAM ASSUMES THERE ARE FROM 1 TO 6 STATES OF NATURE. THERE ARE ALSO FROM 1 TO 6 POSSIBLE ACTIONS WE CAN TAKE. IF THE STATE OF NATURE(S OF N) IS KNOWN THEN EACH ACTION LEADS TO A KNOWN MONETARY RESULT. THIS RESULT IS A CONDITIONAL PROFIT. FOR EXAMPLE, IF ACTION 3 LEADS TO A $35 PAYOFF WHEN STATE OF NATURE 4 IS TRUE THEN 35 IS THE CONDITIONAL PROFIT OF ACTION 3 GIVEN STATE OF NATURE 4. IF WE LOOK AT THE CONDITIONAL PROFIT OF EACH ACTION WITH RESPECT TO A PARTICULAR S OF N THEN THERE IS A LARGEST PROFIT. THE AMOUNT BY WHICH EACH OF THE OTHER PROFITS DIFFER FROM THE MAXIMUM IS CALLED THE OPPORTUNITY LOSS OF THE CORRESPONDING ACTION FOR THE PARTICULAR STATE OF NATURE. IN THIS PROGRAM ALL OF THE CONDITIONAL PROFITS ARE ENTERED AND AN OPPORTUNITY LOSS TABLE IS CONSTRUCTED. EXPECTED OPORTUNITY LOSSES ARE ALSO COMP. PRESS ENTER TO BEGIN? ENTER NUMBER OF POSSIBLE STATES OF NATURE? 3 ENTER PROBABILITY OF S OF N 1 ? 22 ENTER PROBABILITY OF S OF N 2 ? 33 ENTER PROBABILITY OF S OF N 3 ? 44 PROBABILITIES DO NOT SUM TO 1. ENTER 1 TO STANDARDIZE,0 TO BEGIN OVER? 1 ENTER NUMBER OF POSSIBLE ACTIONS(<=5)? 2 NO PAYOFF MORE THAN 9999.99 ACTION 1 PAYOFF WHEN S OF N IS 1 ? 101 PAYOFF WHEN S OF N IS 2 ? 102 PAYOFF WHEN S OF N IS 3 ? 103 ACTION 2 PAYOFF WHEN S OF N IS 1 ? 201 PAYOFF WHEN S OF N IS 2 ? 202 PAYOFF WHEN S OF N IS 3 ? 203 COMPUTING IS LINE PRINTER OUTPUT DESIRED(Y/N)? Y OPPORTUNITY LOSSES OF ACTION GIVEN S OF N S N PR ACTION ACTION 1 ACTION 2 1 0.22 100.00 0.00 2 0.33 100.00 0.00 3 0.44 100.00 0.00 EXP EOL. 100.00 0.00