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3. Consider the following data (20 points): Payoff Table Decision Alternative State of Nature 1 State of Nature 2 13 D2 D3 a. What is

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3. Consider the following data (20 points): Payoff Table Decision Alternative State of Nature 1 State of Nature 2 13 D2 D3 a. What is the optimal decision based on the Optimistic Approach? b. What is the optimal decision based on the Pessimistic Approach? c. Determine the optimal decision based on the Minimax Regret Approach. (Show your work)

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