Question: The following payoff table provides profits based on various possible decision alternatives and various levels of demand. States of Nature Demand Medium Alternatives Alternative 1

The following payoff table provides profits based on various possible decision alternatives and various levels of demand. States of Nature Demand Medium Alternatives Alternative 1 Alternative 2 Alternative 3 Low Select one: O a. Alternative 2 O b. O c. Alternative 3 Od. Alternative 1 80 90 50 70 The probability of a low demand is 0.4, while the probability of a medium and high demand is each 0.3. What decision would a pessimist make? Alternatives 1 and 2 120 High 90 140 90 150

The following payoff table provides profits based on various possible decision alternatives and various levels of demand. The probability of a low demand is 0.4 , while the probability of a medium and high demand is each 0.3 . What decision would a pessimist make? Select one: a. Alternative 2 b. Alternatives 1 and 2 c. Alternative 3 d. Alternative 1

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