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Discuss the risks involved with those expectationsand, if applicable, the payouts.

Weight: 2% of course grade Instructions Identify a situation from your own experience that involvesmaking decisions using expected value, and detail the different options,expectations, and payouts. Discuss the risks involved with those expectationsand, if applicable, the payouts.

Include in your discussion an explanation ofhow to determine how much information to gather to minimize uncertainty.Finally, explain which decision should be made. Your journal entry must be at least 200 words in length. Noreferences or citations are necessary.