Question: Should be good now? Answer for all A and B please make the answer understandable. The following payoff table shows profit for a decision analysis
Should be good now?
Answer for all A and B please make the answer understandable.
The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature: State of Nature Decision Alternative s S, S 190 150 25 di d2 240 150 25 a. Choose the correct decision tree for this problem. (0) (ii) 190 51 190 240 31 51 150 d1 150 du .52 25 33 240 150 si 150 2 25 d2 32 53 83 25 (iii) (iv) 190 5] 190 150 240 150 di 51 dj 25 33 ISO 150 25 52 di 2 31 83 25 25 33 b. If the decision maker knows nothing about the probabilities of the three states of nature, what is the recommended decision using the optimistic, conservative, and minimax regret approaches? Optimistic approach Conservative approach Minimax regret approachStep by Step Solution
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