Use this information to answer the following questions.
Consider the following payoff table that represents the profits earned for each alternative (A,B,and C)under the states of nature S1,S2,and S3.

-Refer to the payoff table.Using the minimax regret criterion,which alternative would you choose?
A)A
B)B
C)C
D)A or B
E)B or C

Question

Use this information to answer the following questions.
Consider the following payoff table that represents the profits earned for each alternative (A,B,and C)under the states of nature S1,S2,and S3.
 
-Refer to the payoff table.Using the minimax regret criterion,which alternative would you choose?
A)A 
B)B 
C)C 
D)A or B 
E)B or C

Quizplus · Accepted Answer

The Answer of Use this information to answer the following questions.
Consider the following payoff table that represents the profits earned for each alternative (A,B,and C)under the states of nature S1,S2,and S3.
 
-Refer to the payoff table.Using the minimax regret criterion,which alternative would you choose?
A)A 
B)B 
C)C 
D)A or B 
E)B or C

Use This Information to Answer the Following Questions