Question: You are provided with the decision matrix below: Decision (Purchase) States of nature Good economic conditions Poor economic conditions Apartment building N100,000 N60,000 Office building

You are provided with the decision matrix below:

Decision (Purchase) States of nature
Good economic conditions Poor economic conditions
Apartment building N100,000 N60,000
Office building N200,000 - N80,000
Warehouse N60,000 N20,000
  1. Find the optimal act using Maxi-Max criteria
  2. Find the optimal act using Mini-Max criteria

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