$19\mathrm{.}3.$ Election results can affect the payoff from certain types of investments. Suppose

a brokerage firm is faced with the prospect of investing $$20$ million a few weeks before

the national election for president of the United States. They feel that if a Republican is

elected, certain types of investments will do quite well; but if a Democrat is elected,

other types of investments will be more desirable. To complicate the situation, an

independent candidate, if elected, is likely to cause investments to behave in a different

manner. Following are the payoffs for different investments under different political

scenarios. Use the data to reach a conclusion about which decision alternative to select.

Use both the maximax and maximin criteria and compare the answers.