Consider the decision analysis problem with states of nature S_i, decision alternatives A_j, and the following payoff table: $\begin{array}{llll}&\mathbf{S 1} & \text { S2 } & \text { S3 } & \text { S4 } \\A1&55 & 51 & 50 & 38 \\A2&39 & 42 & 42 & 48 \\A3&45 & 59 & 57 & 35\end{array}$ What is the preferred alternative when using the:
A.maximin criterion?
B.maximax criterion?
C.minimax regret criterion?
D.principle of insufficient reason?

Question

Consider the decision analysis problem with states of nature S_i, decision alternatives A_j, and the following payoff table:

\begin{array}{llll}&\mathbf{S 1} & \text { S2 } & \text { S3 } & \text { S4 } \\A1&55 & 51 & 50 & 38 \\A2&39 & 42 & 42 & 48 \\A3&45 & 59 & 57 & 35\end{array}

What is the preferred alternative when using the:
A.maximin criterion?
B.maximax criterion?
C.minimax regret criterion?
D.principle of insufficient reason?

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The Answer of Consider the decision analysis problem with states of nature S_i, decision alternatives A_j, and the following payoff table:$\begin{array}{llll} &\mathbf{S 1} & \text { S2 } & \text { S3 } & \text { S4 } \ A1&55 & 51 & 50 & 38 \ A2&39 & 42 & 42 & 48 \ A3&45 & 59 & 57 & 35 \end{array}$ What is the preferred alternative when using the: A.maximin criterion? B.maximax criterion? C.minimax regret criterion? D.principle of insufficient reason?

Consider the Decision Analysis Problem with States of Nature Si

Consider the Decision Analysis Problem with States of Nature S_i