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Based on the following payoff table, the maximax strategy is, Alternative High Low Buy 90 10 Rent 70 40 Lease 60 55 Prior Probability 0.4

Based on the following payoff table, the maximax strategy is,

Alternative

High

Low

Buy

90

10

Rent

70

40

Lease

60

55

Prior Probability

0.4

0.6

a). Buy

b). Rent

c). Lease

d). High

e). Low

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