Question: Problem 13-01 (Algorithmic) The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature: State of

Problem 13-01 (Algorithmic) The following payoffProblem 13-01 (Algorithmic) The following payoffProblem 13-01 (Algorithmic) The following payoff

Problem 13-01 (Algorithmic) The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature: State of Nature Decision S S Alternative d 150 120 dz 300 190 a. Choose the correct decision tree for this problem. (1) 150 d $1 300 150 d2 120 120 d 100 190 300 d2 $2 (ii) S3 100 25 d $1 $2 $3 $1 (iii) 53 d d2 d d $1 $1 $2 $2 53 100 25 150 300 120 190 100 (iv) d2 150 d po 52 53 $1 190 25 $2 53 52 120 100 190 $3 1. 300 25 25 $3 $3 b. If the decision maker knows nothing about the probabilities of the three states of nature, what is the recommended decision using the optimistic, conservative, and minimax regret approaches? Optimistic approach d2 Conservative approach Minimax regret approach d2 $1

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