Question: A payoff (profit) table is given as Si 10 Decision di d2 dz State of Nature S2 10 12 8 14 S3 6 6 7

A payoff (profit) table is given as Si 10

A payoff (profit) table is given as Si 10 Decision di d2 dz State of Nature S2 10 12 8 14 S3 6 6 7 9 a. Recommend a decision based on the use of optimistic, conservative, and minimax regret approaches (show regret table). b. If the probabilities of S1, S2, and s3 are 0.2, 0.4, and 0.4, respectively, what are the expected values for each decision alternative? What decision should be made under expected value

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