Question: Question 16 (2 points) Suppose that there is a decision to be made where there are two decision alternatives and three possible states of nature.

Question 16 (2 points) Suppose that there is a

Question 16 (2 points) Suppose that there is a decision to be made where there are two decision alternatives and three possible states of nature. Consider the payoff table below, and determine the regret for decision alternative 1 if state 1 occurs. 51 S2 S3 7 6 12 d1 dz 21 14 4 Your

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