Question: Question 8 (5 points) 3 The following is a payoff table giving costs for various situations. 6 45 Alternative 1 Alternative 2 Alternative 3 Alternative

Question 8 (5 points) 3 The following is a payoff table giving costs for various situations. 6 45 Alternative 1 Alternative 2 Alternative 3 Alternative 4 State State State 1 2 3 37 83 16 59 72 23 65 91 44 33 55 12 What decision should be made based on the Laplace criterion? 15 A) Alternative 1 B) Alternative 2 7 18 C) Alternative 3 21 D) Alternative 4

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