(a) Does any choice dominate or is any choice dominated? Explain your reasoning.

(b) Explain what choice the rules Maximax and Maximin say you should make. Which rule do you think leads to a better decision and why do you think that?

(c) What choice should you make if you were following the Principle of Insufficient Reason? Show your work.

n an autumn weekend trip, you and a friend are going on a hike in the Rocky Mountains. You are trying to decide what to include in your daypack, including extra clothes to account for a possible shift in the weather. Carrying extra clothes adds bulk to your pack, but it could be necessary because getting caught unprepared in a storm means risking your life. The following decision matrix represents your choices and the utilities of each outcome, depending on the weather Weather stays good Storm rolls in over the mountains Bring nothing .8 .01 Bring light sweater .6 .01 Bring waterproof jacket .4 .7