Question: Consider a decision problem with two possible actions and two states of nature. (a) Provide an example of a payoff table according to which both

Consider a decision problem with two possible actions and two states of nature.

(a) Provide an example of a payoff table according to which both actions are admissible and the same action is chosen by both the maximin criterion and the minimax regret criterion.

(b) Provide an example of a payoff table according to which different actions are chosen by the maximin criterion and the minimax regret criterion.

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