Question: Suppose that a decision maker faced with four decision alternatives and four states of nature develops the following profit payoff table: table [ [

Suppose that a decision maker faced with four decision alternatives and four states of nature develops the following profit payoff table:

\

table

[[

Decision Alternative,

s_{1},

State of Nature,

s_{4} .

if the decision maker knows nothing about the probabilities of the for states of nature, what is the recommended decision using the optimistic conservative and minimal regret approaches decision maker

Suppose that a decision maker faced with four decision alternatives and

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