Consider the following decision table with rewards in $ millions. $\begin{array}{r}\text { State of Nature }\\(\begin{array}{|c|c|c|c|}\hline\text { Decision Alternatives } & S_{1} & S_{2} & S_{3} \\\hline d_{1} & -1 & 2 & 8 \\\hline d_{2} & -3 & y & 5 \\\hline d_{3} & -0.5 & 0.75 & 1 \\\hline d_{4} & 0 & 0 & 0 \\\hline d_{5} & x & -1 & -1\\\hline\end{array}\end{array}$
If you are using the maximin criterion and decide d₄, then x is ______.

Question

Consider the following decision table with rewards in $ millions.

\begin{array}{r}\text { State of Nature }\\(\begin{array}{|c|c|c|c|}\hline\text { Decision Alternatives } & S_{1} & S_{2} & S_{3} \\\hline d_{1} & -1 & 2 & 8 \\\hline d_{2} & -3 & y & 5 \\\hline d_{3} & -0.5 & 0.75 & 1 \\\hline d_{4} & 0 & 0 & 0 \\\hline d_{5} & x & -1 & -1\\\hline\end{array}\end{array}

If you are using the maximin criterion and decide d₄, then x is ______.

Quizplus · Accepted Answer

The Answer of Consider the following decision table with rewards in $ millions. $\begin{array}{r} \text { State of Nature }\ (\begin{array}{|c|c|c|c|} \hline\text { Decision Alternatives } & S_{1} & S_{2} & S_{3} \ \hline d_{1} & -1 & 2 & 8 \ \hline d_{2} & -3 & y & 5 \ \hline d_{3} & -0.5 & 0.75 & 1 \ \hline d_{4} & 0 & 0 & 0 \ \hline d_{5} & x & -1 & -1\ \hline \end{array}\end{array}$ If you are using the maximin criterion and decide d₄, then x is ______. A)at most -1 B)less than -1 C)any value D)cannot be determined without knowing the value of y E)less than -3

Consider the Following Decision Table with Rewards in $ Millions