Question: A manager has developed a payoff table that indicates the profits associated with a set of alternatives under two possible states of nature. Alt S1

A manager has developed a payoff table that indicates the profits associated with a set of alternatives under two possible states of nature.

Alt S1 S2

1 10 2

2 -2 8

3 8 5

If the manager uses maximin as the decision criterion, which of the alternatives should she choose?

A.

Alternative 1
B.

Alternative 2
C.

Alternative 3
D.

None of the above

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