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State of Nature Decision s 1 s 2 s 3 d 1 10 8 6 d 2 14 15 2 d 3 7 8 9
State of Nature | |||
Decision | s1 | s2 | s3 |
d1 | 10 | 8 | 6 |
d2 | 14 | 15 | 2 |
d3 | 7 | 8 | 9 |
a. What decision should be made by the optimistic decision maker?
a. d1 b. d2 c. d3
b. What choice should be made by the conservative decision maker? a. d1 b. d2 c. d3 |
c. What decision should be made under minimax regret? a. d1 b. d2 c. d3 d. any decision (d1, d2, or d3) e. no decision |
d. What is the payoff under the REGRET decision (MINMAX REGRET)?
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