Next Page Page 1 of 29 Question 1 (13 points) ge 2: Listen Profit Maximization: A project has estimated the following payoff table. Determine the best decision using the following criteria. ge 3: Us. Maximax (2 marks) 2. Maximin (2 marks) 3. Hurwicz, a = 0.25 (3 marks) 4. Minimax Regret (3 marks) 5. EVPI (3 marks) e 4: You can use the HTML Editor to enter your answer in tables. You can also insert images. States of Nature Decisions State 1 State 2 State 3 State 4 e 5: Probabilities 0.20 0.30 0.40 0.10 2,000 -500 -3,000 5,500 500 4,000 1,500 -1,000 1,000 2,500 6,000 3,500 -2,500 1,000 4,500 8,000 . . . To Paragraph BIU ATime Left:0:06:06 Ruth Dmello: Attempt 1 Next Page Page 22 of 29 Question 22 (10 points) Listen You and your project team have been charged with the task of identifying the risks on a major project. - Give 5 ways that you would go about doing this task. (5 marks). Without doing a qualitative analysis, develop a 'preliminary' risk register that records the details of at least 5 risk events. (5 marks) Paragraph v BIUAEEV + v . .. Record Video Record Audio Add a File Page 22 of 29 Next Page