Question: A payoff table is given as S1 S2 S3 D1 10 8 6 D2 14 15 2 D3 7 8 9 a. What decision should

  1. A payoff table is given as

S1

S2

S3

D1

10

8

6

D2

14

15

2

D3

7

8

9

a. What decision should be made by the optimistic decision maker?

b. What decision should be made by the conservative decision maker?

c. What decision should be made under minimax regret?

d. If the probabilities of s1, s2, and s3 are .2, .4, and .4, respectively, then what decision should be made under expected value?

e. What is the EVPI?

f. Draw a decision tree for this problem

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