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Esraa wants to decide what kind of housing she should rent. She has three decision options as to rent (House, Small Apartment, or Large
Esraa wants to decide what kind of housing she should rent. She has three decision options as to rent (House, Small Apartment, or Large Apartment) with different types of condition as (Excellent, Average and good) as shown in the following payoff table: Decision options Excellent Condition Avg. Condition Good Condition House SR 1000 SR800 SR-250 SR-500 SR-150 Large Apartment SR 900 Small Apartment SR750 SR-350 SR-200 Determine the best decision options of the following criteria: a) Maximin Criterion (Pes.) b) Minimax Regret Criterion c) Maximax Criterion (Opt.) d) Equally Likely Criterion (50/50) Esraa wants to decide what kind of housing she should rent. She has three decision options as to rent (House, Small Apartment, or Large Apartment) with different types of condition as (Excellent, Average and good) as shown in the following payoff table: Decision options Excellent Condition Avg. Condition Good Condition House SR 1000 SR800 SR-250 SR-500 SR-150 Large Apartment SR 900 Small Apartment SR750 SR-350 SR-200 Determine the best decision options of the following criteria: a) Maximin Criterion (Pes.) b) Minimax Regret Criterion c) Maximax Criterion (Opt.) d) Equally Likely Criterion (50/50)
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