Question: A decision maker using the maximin criterion on the problem below would choose Alternative ________ because the maximum of the row minimums is ________. States
A decision maker using the maximin criterion on the problem below would choose Alternative ________ because the maximum of the row minimums is ________.
| States of nature3 | States of nature2 | States of nature1 |
|
| 60 | 55 | 50 | Alternative A |
| 80 | 50 | 30 | Alternative B |
| 70 | 80 | 70 | Alternative C |
| 140 | -10 | -100 | Alternative D |
a.
D; 140
b.
A; 55
c.
B; 30
d.
C; 70
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