The following payoff matrix shows the various profit outcomes for 3 projects,A,B,and C,under 2 possible states of nature: the product price is $10 or the product price is $20. Using the maximin rule,the decision maker would choose
A)A.
B)B.
C)C.
D)either A or B because neither has negative profit

Question

The following payoff matrix shows the various profit outcomes for 3 projects,A,B,and C,under 2 possible states of nature: the product price is $10 or the product price is $20.  Using the maximin rule,the decision maker would choose
A)A. 
B)B. 
C)C. 
D)either A or B because neither has negative profit

Quizplus · Accepted Answer

The Answer of The following payoff matrix shows the various profit outcomes for 3 projects,A,B,and C,under 2 possible states of nature: the product price is $10 or the product price is $20.  Using the maximin rule,the decision maker would choose
A)A. 
B)B. 
C)C. 
D)either A or B because neither has negative profit

The Following Payoff Matrix Shows the Various Profit Outcomes for 3