Question: QUESTION 5 Payoff Table For Decision Making (15 points) The following profit payoff table was obtained from a Real Estate Agent in Victoria, BC for

QUESTION 5 Payoff Table For Decision Making (15 points) The following profit payoff table was obtained from a Real Estate Agent in Victoria, BC for your recommendation Decision States of nature Alternatives S1 S2 D1 390 240 D3 100 53 110 -30 D2 80 40 150 80 a) What is the best decision according to the Optimistic decision strategy? b) Considering the following probabilities for the states of nature, what is the best decision to be chosen? P(SI) -0.20, P(S2) -0.45, and P(53) = 0.35. c) Calculate the Expected value of perfect information. 10 minutes on slic

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