Question: The below payoff tables will be on the test. Be sure you can determine the best decision according to all the methods we have learned
The below payoff tables will be on the test. Be sure you can determine the best decision according to all the methods we have learned (e.g., maximax, minimax regret, EMV, EOL, EVPI, etc.). State 1 State 2 State 3 Probability 0.4 0.35 0.25 Alternative 1 45 37 83 Alternative 2 16 59 72 Alternative 3 23 65 91 Alternative 4 44 33 55
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