Question: J . A decision tree has action a 1 with outcomes s 1 , s 2 and s 3 with payoffs K 8 0 0

J. A decision tree has action a1 with outcomes s1, s2 and s3 with payoffs K8000, K10000 and -K1000
Decision a2 with outcomes s1, s2 and s3 with payoffs K3000, K6000 and -K2000
Decision a3 with outcomes s1, s2 and s3 with outcomes K10000,-K900 and K50
Required:
Find the actions that would be prescribed by the Maximax, and Maximin criterion.
Explain why the action prescribed by the Maximin criterion here is potentially unreasonable from a practical viewpoint.

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