Your coop manager has asked you for your input to determine the best decision for next years agricultural operations Investment choices and projected payoffs are listed below A Using maximin criteria, which choice would be the best recommendation A Rye B Sorghum C Barley D Wheat B With a coefficient of optimism of 0 6 , which choice would be the best recommendation A Wheat B Rye C Barley D Sorghum C Using equal likelihood criteria, which choice would be the best recommendation A Sorghum B Wheat C Rye D Barley D Using the regret table, which choice would be the best recommendation A Rye B Barley C Wheat D Sorghum States of Nature Feed prices Decline Stable Increase 0 7 1 5 3 6 Payoff (SM) Decision Wheat Sorghum Barley Rye 0 2 1 8 2 6 0 9 1 2 2 3 1 7 1 4 1 States of Nature Feed prices Decline Stable Increase Regret table Decision Wheat Sorghum Barley Rye

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Question: Your coop manager has asked you for your input to determine the best decision for next years agricultural operations. Investment choices and projected payoffs are

Your coop manager has asked you for your input to determine the best decision for next years agricultural operations. Investment choices and projected payoffs are listed below.

Your coop manager has asked you for your input to

A.Using maximin criteria, which choice would be the best recommendation?

	A.	Rye
	B.	Sorghum
	C.	Barley
	D.	Wheat

B.With a coefficient of optimism of 0.6, which choice would be the best recommendation?

	A.	Wheat
	B.	Rye
	C.	Barley
	D.	Sorghum

C.Using equal likelihood criteria, which choice would be the best recommendation?

	A.	Sorghum
	B.	Wheat
	C.	Rye
	D.	Barley

D.Using the regret table, which choice would be the best recommendation?

	A.	Rye
	B.	Barley
	C.	Wheat
	D.	Sorghum

States of Nature - Feed prices Decline Stable Increase 0.7 1.5 3.6 Payoff (SM) Decision Wheat Sorghum Barley Rye 0.2 1.8 2.6 0.9 1.2 2.3 1.7 1.4 1 States of Nature - Feed prices Decline Stable Increase Regret table Decision Wheat Sorghum Barley Rye

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