Consider the following decision scenario: $$\begin{array} {r}
{ \text { State of Nature } } \
\begin{array} { | l | l | l | }
\hline & \text { Yes } & \text { No } \
\hline \text { Small } & \$ 10 ^ { * } & 30 \
\hline \text { Medium } & 20 & 40 \
\hline \text { Med.-Large } & 30 & 45 \
\hline \text { Large } & 40 & 35 \
\hline \text { Ex-Large } & 60 & 20 \
\hline
\end{array}\end{array}$$ *PV for profits ($000) The minimax regret strategy would be:
A) small.
B) medium.
C) med.-large.
D) large.
E) ex-large.

Question

Consider the following decision scenario: $$\begin{array} {r} 
 { \text { State of Nature } } \
\begin{array} { | l | l | l | } 
\hline & \text { Yes } & \text { No } \
\hline \text { Small } & \$ 10 ^ { * } & 30 \
\hline \text { Medium } & 20 & 40 \
\hline \text { Med.-Large } & 30 & 45 \
\hline \text { Large } & 40 & 35 \
\hline \text { Ex-Large } & 60 & 20 \
\hline
\end{array}\end{array}$$ *PV for profits ($000) The minimax regret strategy would be:
A) small.
B) medium.
C) med.-large.
D) large.
E) ex-large.

Quizplus · Accepted Answer

The Answer of Consider the following decision scenario: $$\begin{array} {r} 
 { \text { State of Nature } } \
\begin{array} { | l | l | l | } 
\hline & \text { Yes } & \text { No } \
\hline \text { Small } & \$ 10 ^ { * } & 30 \
\hline \text { Medium } & 20 & 40 \
\hline \text { Med.-Large } & 30 & 45 \
\hline \text { Large } & 40 & 35 \
\hline \text { Ex-Large } & 60 & 20 \
\hline
\end{array}\end{array}$$ *PV for profits ($000) The minimax regret strategy would be:
A) small.
B) medium.
C) med.-large.
D) large.
E) ex-large.

Consider the Following Decision Scenario *PV for Profits ($000) the Minimax Regret Strategy Would Be