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A cell phone manufacturer is considering introducing one of two new cell phone models: Premium or Basic. Expected payoffs under three possible economy scenarios are

image text in transcribed A cell phone manufacturer is considering introducing one of two new cell phone models: Premium or Basic. Expected payoffs under three possible economy scenarios are provided below. [- What is the optimal decision using the Maximin method? Min(-300,-100)=-300. Optimal Decision: Premium Phone Max(300,100)=100. Optimal Decision: Basic Phone Max(600,300)=600. Optimal Decision: Premium Phone Max(300,100,300)=300. Optimal Decision: Basic Phone

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