Use the following to answer the questions below.
In choosing between three new jobs, Joe MBA considers the potential payoffs over the next three years. The following table contains the payoffs, given the speed of promotion in each of the organizations. The probability of fast promotion is 0.6, and the probability of slow promotion is 0.4.
-Use the information in Table A.3. Which alternative is best, given the matrix payoff?
A) The A alternative would be chosen using the maximin decision rule.
B) The B alternative would be chosen using the maximax decision rule.
C) The C alternative would be chosen using the Laplace decision rule.
D) The C alternative would be chosen using the maximin decision rule.
Correct Answer:
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