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A business owner is trying to decide to buy, rent or lease office space and has constructed the following payoff tabel based on whether business
A business owner is trying to decide to buy, rent or lease office space and has constructed the following payoff tabel based on whether business is brisk or slow.
Alternative | Brisk | Slow |
Buy | 90 | -10 |
Rent | 70 | 40 |
Lease 60 55
A) Maximax strategy is?
B) Minimax regret strategy is?
C) The equal likelihood stratege is?
D) The probability of brisk business .40 and for slow business .60 the expecrted value of perfect information is?
Please provide step by step For A,B, C, D questions ---Thank you
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