Question: A decision maker has prepared the following payoff table. States of Nature Alternative High Low Buy 95 15 Rent 80 50 Lease 45 55 Using

A decision maker has prepared the following payoff table.

States of Nature
Alternative High Low
Buy 95 15
Rent 80 50
Lease 45 55

Using the Maximin criterion, what is the best decision and the expected payoff?

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