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Sharmin Alter TION 5 Payoff Table For Decision Making The following payoff table was obtained from a Real Estate Agent in Victoria, BC for your

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Sharmin Alter TION 5 Payoff Table For Decision Making The following payoff table was obtained from a Real Estate Agent in Victoria, BC for your recommendation. The payoff values are Time which are desired to be minimum. Decision States of nature Alternatives 01 51 390 S2 210 D2 450 180 D3 290 160 a) What is the best decision according to the conservative approach b) Considering the following probabilities for the states of nature, what is the best deal chosen? P(SY) 0.30. P(S2) -0.25., and P(S3) -0,45 c) Calculate the Expected value of perfect information, search

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