Problem 2: Uncertainty Uncertainty is when the outcomes are not certain and you are unable to estimate probabilities, but you use your psychological orientation to make decision. If you are optimistic you would make a "maximax choice. If you are generally a pessimist, you would make a "maximin choice. You also can make a choice that minimizes your maximum regret" or make a minimax choice. Use the following information and determine what would be your three choices based on the three psychological orientations (maximax, maximin, and minimax). Show all work Payoff Table Response: RI R2 R3 Strategy: S1 2232 2156 2199 S2 2021 1545 1402 S3 1598 1718 2209 S4 2157 2199 2231 ANSWER: R2 R3 Maximax: Optimistic Response: RI Strategy: SI S2 S3 S4 2 ANSWER: R2 R3 Maximin: Pessimistic Response: RI Strategy: SI S2 S3 S4