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Based on the following profit payoff table, answer the following: Alternative Yes No Small 10 30 Medium 20 40 Medium Large 30 45 Large 40
Based on the following profit payoff table, answer the following:
Alternative | Yes | No |
Small | 10 | 30 |
Medium | 20 | 40 |
Medium Large | 30 | 45 |
Large | 40 | 35 |
Extra Large | 60 | 20 |
Prior Probability | 0.3 | 0.7 |
The optimistic strategy is: Answer MediumSmallLargeMedium LargeExtra Large The pessimistic strategy is: Answer SmallMediumExtra LargeMedium LargeLarge The maximum likelihood strategy is: Answer SmallLargeMediumMedium LargeExtra Large The minimax regret strategy is: Answer MediumExtra LargeMedium LargeLargeSmall The expected payoff strategy is: Answer MediumMedium LargeLargeExtra LargeSmall The expected value of perfect information is:Answer 40.594.549.560
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