TABLE 19-1
The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature.
-Referring to Table 19-1, what is the best action using the maximin criterion?
A) Action A1
B) Action A2
C) Action A3
D) It cannot be determined.

Question

TABLE 19-1
The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature. 
-Referring to Table 19-1, what is the best action using the maximin criterion?
A) Action A1 
B) Action A2 
C) Action A3 
D) It cannot be determined.

Quizplus · Accepted Answer

The Answer of TABLE 19-1
The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature. 
-Referring to Table 19-1, what is the best action using the maximin criterion?
A) Action A1 
B) Action A2 
C) Action A3 
D) It cannot be determined.

TABLE 19-1 The Following Payoff Table Shows Profits Associated with a Set