Question: The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature: a. Construct a decision tree

The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature:

a. Construct a decision tree for this problem.
b. If the decision maker knows nothing about the probabilities of the three states of nature, what is the recommended decision using the optimistic, conservative, and mini-max regretapproaches?

State of Nature Decision Alternative di 250 100 100 100 25 75

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