Question: Question #1 Alternative High Medium Low A 20 20 5 B 25 30 11 C 30 12 13 D 10 12 12 E 50 40

Question #1

Alternative High Medium Low
A 20 20 5
B 25 30 11
C 30 12 13
D 10 12 12
E 50 40 -28
Prior Probability 0.3 0.2 0.5

The maximin strategy is:

Question #2

Refer to the following payoff table.

Alternative High Low
A 120 58
B 251 118
C 301 132
D 105 120
E 501 -280

The maximin strategy is:

Question #3

Alternative High Medium Low
A 20 20 5
B 25 30 11
C 30 12 13
D 10 12 12
E 50 40 -28
Prior Probability 0.3 0.2 0.5

The Bayes' decision rule strategy is:

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