For the example in Simple Decision Problem.xlsx, are there any probabilities that make the EMV criterion equivalent

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For the example in Simple Decision Problem.xlsx, are there any probabilities that make the EMV criterion equivalent to the maximin criterion? Are there any probabilities that make the EMV criterion equivalent to the maximax criterion? Explain.

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Data Analysis and Decision Making

ISBN: 978-0538476126

4th edition

Authors: Christian Albright, Wayne Winston, Christopher Zappe

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Question Posted: Apr 01, 2015 10:58 AM

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For the example in Simple Decision Problem.xlsx, are there any probabilities that make the EMV criterion equivalent

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