Answer:
The states of nature refer to future events, not under the control of the decision maker, which may occur. States of nature should be defined so that they are mutually exclusive and collectively exhaustive.
113.10
because the 9 is greater than 5
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6 - -4 = 10
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8
46
is equivalent to 4
23
because 4 x 2 = 8 and 23 x 2 = 46
12
69
is equivalent to 4
23
because 4 x 3 = 12 and 23 x 3 = 69
16
92
is equivalent to 4
23
because 4 x 4 = 16 and 23 x 4 = 92
