Question: A decision maker has prepared the following payoff table. States of Nature Alternative High Low Buy 85 5 Rent 60 50 Lease 45 45 Using

A decision maker has prepared the following payoff table.

States of Nature
Alternative High Low
Buy 85 5
Rent 60 50
Lease 45 45

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

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