Question: STION 5 Payoff Table For Decision Making (15 points) e following Cost payoff table was obtained from a Real Estate Agent in Edmonton Alberta your

STION 5 Payoff Table For Decision Making (15 points) e following Cost payoff table was obtained from a Real Estate Agent in Edmonton Alberta your recommendation. States of nature Decision Alternatives 53 S1 S2 760 480 650 Di 890 805 490 D2 870 750 640 03 a) What is the best decision according to the conservative decision strategy? b) Considering the following probabilities for the states of nature, what is the best decision to be chosen? P(SI) - 0.15. P(S2) - 0.35, and P(S3) -0.5. 12 minutes on slide c) Calculate the Expected value of perfect information

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