Question:
The Blue Sox American League baseball team is going to enter the free-agent market over the winter to sign a new starting pitcher. They are considering five prospects who will enter the freeagent market. All five pitchers are in their mid-20s, have been in the major leagues for approximately 5 years, and have been relatively successful. The teams general manager has compiled a lot of information about the pitchers from scouting reports and their playing histories since high school. He has developed a chart projecting how many wins each pitcher will likely have during the next 10 years given three possible future states of nature: the pitchers will be relatively injury free, they will have a normal career with injuries, or they will have excessive injuries, as shown in the following payoff table:
Determine the best pitcher to sign, using the following decision criteria:
a. Maximax
b. Maximin
c. Equal likelihood
d.Hurwicz
Transcribed Image Text:
Physical Condition Pitcher No injuries Normal Excessive Injuries 153 173 133 105 127 76 46 Jose Diaz Jerry Damon Frank Thompson Derek Rodriguez Ken Griffin 122 135 115 101 98 95 75