Consider the following payoff table $($profits in millions$)$

CapturePO.JPG

What is the best decision using the MaximaxMaximax decision criterion?

Choice $1$ of $5$:A

Choice $2$ of $5$:B

Choice $3$ of $5$:C

Choice $4$ of $5$:D

Choice $5$ of $5$:E

Question $7\mathrm{.}2$

Q$7\mathrm{.}2$

$1$ Point

Grading comment:

What is the best decision using the MaximinMaximin decision criterion?

Choice $1$ of $5$:A

Choice $2$ of $5$:B

Choice $3$ of $5$:C

Choice $4$ of $5$:D

Choice $5$ of $5$:E

Question $7\mathrm{.}3$

Q$7\mathrm{.}3$

$1$ Point

Grading comment:

What is the best decision using the Minimax RegretMinimax Regret decision criterion?

Choice $1$ of $5$:A

Choice $2$ of $5$:B

Choice $3$ of $5$:C

Choice $4$ of $5$:D

Choice $5$ of $5$:E

Question $7\mathrm{.}4$

Q$7\mathrm{.}4$

$1$ Point

Grading comment:

What is the best decision using the Principle of Insufficient Reason Principle of Insufficient Reason decision criterion?

Choice $1$ of $5$:A

Choice $2$ of $5$:B

Choice $3$ of $5$:C

Choice $4$ of $5$:D

Choice $5$ of $5$:E

Question $7\mathrm{.}5$

Q$7\mathrm{.}5$

$1$ Point

Grading comment:

What is the best decision using the Hurwicz CriterionHurwicz Criterion with alpha $=0\mathrm{.}15?$

Choice $1$ of $5$:A

Choice $2$ of $5$:B

Choice $3$ of $5$:C

Choice $4$ of $5$:D

Choice $5$ of $5$:E