Question: 2 Table below showing profit for a decision problem with four states of nature and four decision alternatives Alternative State of Nature 1 25 25

2 Table below showing profit for a decision

2 Table below showing profit for a decision problem with four states of nature and four decision alternatives Alternative State of Nature 1 25 25 22 30 2 21 20 31 35 3 22 23 31 15 4 25 20 22 45 a. Recommend a decision using the criteria below: Maximim criterion Maximac criterion Hurwick criterion (a=0.70) Laplace criterion Minimim criterion (EOL Table) b. Based on decision in a, which alternative should be to invest? State your reason

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