Question: This question is about applying minimax strategy. You will fill in the blanks below. Calculatic Low Medium High Decision Alternative a 6 4 2 TV

This question is about applying minimax strategy.
This question is about applying minimax strategy.
This question is about applying minimax strategy. You will fill in the blanks below. Calculatic Low Medium High Decision Alternative a 6 4 2 TV marketing Radio marketing b 5 5 Social media marketing 1 5 9 Probability .4 .3 .3 Step 1: You will need to find x, y and z first. Decision Alternative Low High TV marketing 6 2 Radio marketing 5 5 Social media marketing 1 9 Probability .4 .3 Selection X Y Z Step 2: Use x, y and z to fill in the cells in the following table and find a, b and c. 5 Medium 5 5 .3 C Step 2: Use x, y and 2 to fill in the cells in the following table and find a, b and c. Decision Alternative Regret for Low Regret for Medium Regret for High Calculation TV marketing 0 1 Cell 3 a Radio marketing 1 0 Cell 6 Cell 8 0 Social media marketing Cell 7 Probability 4 .3 Based these the value for Cell 7 is value of a is 3 value for Cell 8 is value of cis b the value for cell 3 is the optimal strategy is

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