Question: A decision maker has developed the following payoff matrix: table [ [ Payoff Matrix,State 1 , State 2 , State 3 ] , [
A decision maker has developed the following payoff matrix:
tablePayoff Matrix,StateState State Choice Choice Choice
What decision should be made using the maximin decision criterion?
Choice
Choice
Choice
What decision should be made using the maximax decision criterion?
Choice
Choice
Choice
Please fill in the opportunity loss table below
tabletableOpportunityLoss TableStateState State Choice Choice
What decision should be made using the minimax regret decision criterion?
Choice
Choice
Choice
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