Question: Use this table to answer the following and show all work in excel: Which investment would the investor chose under Maximin Criteria? Which investment would

  1. Use this table to answer the following and show all work in excel:
  2. Which investment would the investor chose under Maximin Criteria?
  3. Which investment would the investor chose under Maximax Criteria?
  4. Assume there is a 70% chance of maximum payoff and a 30% chance of minimum payoff for each investment. What is the weighted average for each investment and which would have the highest payoff?

Investment Choice S1 S2 S3 S4 Min Payoff Max Payoff
Condo 27 12 14 26 12 27
Beach House 45 17 35 20 17 45
Mt Cabin 52 36 29 15 15 52

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