Question: Consider the same decision as before, but now the table below is the Regret table for each decision alternative and state of nature. Determine which
Consider the same decision as before, but now the table below is the Regret table for each decision alternative and state of nature. Determine which decision to select using a Minimax Regret approach. As before, enter a 1 in the blank below for decision 1 and a 2 in the blank for decision 2.
| s1 | s2 | s3 | |
| d1 | 0 | 0 | 6 |
| d2 | 8 | 1 | 0 |
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
