The Following Payoff Table Shows Profit For A Decision Analysis Problem With Two Decision Alternatives And Three States 1 (24.21 KiB) Viewed 11 times
The Following Payoff Table Shows Profit For A Decision Analysis Problem With Two Decision Alternatives And Three States 2 (6.41 KiB) Viewed 11 times
The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature. States of Nature Decision Alternative d₁ d₂ d₁ 51 52 $3 d₂ 240 90 15 90 (a) Construct a decision tree for this problem. Decision Tree 90 65 3 Description
(b) If the decision maker knows nothing about the probabs of the three states of nature, what is the recommended decision using the optin conservative, and monimas regret approaches? The recommended decision using the conservative approach is the recommended decision uning the The recommended decision uning the optimistic approach is minimax regret approach is 2
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