s1 s2 s3

d1 10 8 6

d2 14 15 2

d3 7 8 9

a. What decision should be made by the optimistic decision maker?

b. What decision should be made by the conservative decision maker?

c. What decision should be made under minimax regret?

d. If the probabilities of s1, s2, and s3 are .2, .4, and .4, respectively, then what decision should be made under expected value?

Dear Student, below is the solution: ================================================== Assume payoff table is showing profits:... View the full answer