Question: Answer Question 16 (1 point) Saved Unlike Decision Making under Risk, decision making with perfect information: 1) Knows the payoffs 2) Knows the answer to

Answer Question 16 (1 point) Saved Unlike Decision Making under Risk, decision making with perfect information: 1) Knows the payoffs 2) Knows the answer to this question 3) Knows the probabilities of the states of natures. 4) Knows which state of nature you will be in. Question 17 (1 point) What is the best decision alternative using the MaxiMax criterion? Poor Decision Alternative Decision Alternative 1 Decision Alternative 2 Decision Alternative 3 Decision Alternative 4 State of nature Average Good 31 31 40 12 39 361 19 19 36 40 18 47 1) DA1 2) DA2 3) DA3 4) DA4

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