Question: 1. (100 points) Suppose that a decision maker faced with four decision alternatives and four states of nature develops the following profit payoff table: State

1. (100 points) Suppose that a decision maker faced with four decision alternatives and four states of nature develops the following profit payoff table: State of Nature d14 9 10 5 Decision dy 11 1087 Alternative 9 10 10 11 de 8 10 11 13 If the decision malor does not know anything about the probabilities of the four states of nature, what is the recommended decision using optimistic, conservative and minimax regret approach

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