Use the payoff matrix to determine the best strategy.A farmer must decide on which of two pieces of land to grow his crops. The first piece of land has better soil and will yield a larger harvest. However this piece of land is low lying and is coastal and his crops will be destroyed in the event of a storm and flooding. The second piece of land has poorer soil and will yield a smaller harvest but is at a higher elevation and would not be affected by flooding. He estimates that the payoff matrix is as follows:FloodingNo floodingBased on meteorological records from previous years,

the farmer estimates the probability of flooding next year to be 0.1. What is the farmer's best strategy?

A. Use the land that is at a higher elevation
B. Wait and see
C. Use the land that is at a lower elevation


Answer: C

Mathematics

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