Question: Consider the Payoff Matrix given below. Which alternative (project) would you choose using the following criteria - MAXIMAX, MAXIMIN and MINIMAX? Show your work in

Consider the Payoff Matrix given below. Which

Consider the Payoff Matrix given below. Which alternative (project) would you choose using the following criteria - MAXIMAX, MAXIMIN and MINIMAX? Show your work in a word document or an excel file and upload it for submission. States of nature / External environment conditions N1 N2 N3 N4 Project $0 $380 $700 $1,020 A Project $220 $0 $320 $640 Project $1,100 $280 ($10) $320 Project $1,980 $1,160 $280 ($20) Note: The numbers in parentheses indicate negative numbers. Consider the Payoff Matrix given below. Which alternative (project) would you choose using the following criteria - MAXIMAX, MAXIMIN and MINIMAX? Show your work in a word document or an excel file and upload it for submission. States of nature / External environment conditions N1 N2 N3 N4 Project $0 $380 $700 $1,020 A Project $220 $0 $320 $640 Project $1,100 $280 ($10) $320 Project $1,980 $1,160 $280 ($20) Note: The numbers in parentheses indicate negative numbers

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