Question: Consider the possible payoffs to the decision maker under the three states of nature (NS) and three alternatives (d1 to d3) given in the table

Consider the possible payoffs to the decision maker under the three

Consider the possible payoffs to the decision maker under the three states of nature (NS) and three alternatives (d1 to d3) given in the table below. d1d2d3s1036s2011s3123 Say that the state of nature probabilities are P(NS=s1)=0.1,P(NS=s2)=0.7, and P(NS=s3)=0.2. (a) What is the best alternative's expected payoff and the EVPI? (b) What is the minimax regret alternative for this decision

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