1. A decision maker has prepared the following payoff table

Alternative	High	Low
Buy	100	5
rent	80	45
Lease	50	40
Prior Probability	0.8	0.2

Using Baye's Decision Rule, what is the best decision and the expected payoff? (Round your answer to 1 Decimal place)

Best decision
Payoff

2. A decision maker has prepared the following payoff table

Alternative	High	Low
Buy	95	0
rent	80	40
Lease	60	35

Using the Maximin criterion, what is the best decision and the expected payoff?

Best decision
Payoff