Question: 26. Using the following pay-off function, develop a paY-offmatrix and determine the optimal policy. M(a;, d) indicates the pay-off associated with ith act andjth state

26. Using the following pay-off function, develop a paY-offmatrix and determine the optimal policy.

(400d 300 (adj) if if a; > dj aj s dj M(a,

M(a;,

d) indicates the pay-off associated with ith act andjth state of nature

d=400a i3, 4, 8; j 3, 4, ..., 6

(400d 300 (adj) if if a; > dj aj s dj M(a, d=400a i3, 4, 8; j 3, 4, ..., 6

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