Question 42 In decision-making, luck o a. cannot be quantified o b. can be quantified oc. often plays a role in determining whether good or bad outcomes occur o d. can be ignored Business decision models can be categorized as o a. decision-making under uncertainty ob.decision-making under risk o c. decision making under certainty od. (a) and (b) only Exhibit 14.2 The following questions are based on the information below. An investor is considering 4 investments, A, B, C and leaving his money in the bank. The payoff from each investment is a function of the economic climate over the next 2 years. The economy can expand or decline. The following payoff matrix has been developed for the decision problem. A B D E F G H 1 Payoff Matrix Regret Matrix 3 Economy Economy 4 Investment Decline Expand Investment Decline Expand 5 0 85 A 6 B 25 65 B 7 40 30 Bank 10 10 Bank Refer to Exhibit 14.2. What formula should go in cell H5 and copied to H6:H8 of the Regret Table above to implement the minimax regret decision rule? o a. =AVERAGE(F5:45) o b.=MAX(F5:65) o c. =MIN(F5:45) o d.=MAX(MAX(F5:55))