Question 12

If he uses the minimax regret criterion, how many assistants will he decide to hire?

Question 12 options

Three

two

one

either one or two

A former White House aide, who is now the owner of a Washington lobbying firm, is trying to decide whether to hire one, two, or three assistant lobbyists He estimates that profits next year (n thousands of dollars will vary with demand for his lobbying services as follows: Information NUMBER DEMAND ASSISTANTS LOW MEDIUM HIGH 75 100 1000 1000 Two Three 1000 300 Question 10 (1 point) If he feels the chances of low, medium, and high demand are 50%,20%, and 30% respectively, what are the expected annual profits for the number of assistants he wildecide o hire? Question 10 options: Question 11 If he feels the chances of low, normal, and high precipitation are 30 percent, 20 percent, and 50 percent respectively, what is his expected value of perfect information? Question 11 options $70,000 $65,000 $50,000 $55,000