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A farmer in Georgia must decide which crop to plant next year on his land: corn, peanuts, or soybeans. The return from each crop will

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A farmer in Georgia must decide which crop to plant next year on his land: corn, peanuts, or soybeans. The return from each crop will be determined by whether a new trade bill with Russia passes the Senate. The profit the farmer will realize from each crop, given the two possible results on the trade bill, is shown in the following payoff table: Trade Bill Crop Pass Fail Corn Peanuts Soybeans $35,000 18,000 22,000 $ 8,000 12,000 20,000 Determine the best crop to plant, using the following decision criteria. a. Maximax b. Maximin c. Hurwicz (use a =0.2) d. Equal likelihood

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