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The following is a payout table: States of Nature Alternatives A Alternative 1 20 100 0 Alternative 2 100 0 25 Alternative 3 0 40

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The following is a payout table: States of Nature Alternatives A Alternative 1 20 100 0 Alternative 2 100 0 25 Alternative 3 0 40 90 The probabilities for the states of nature A, B, and Care 0.3, 0.5, and 0.2 respectively. If a person were to use the mini-max regret criterion, what decision would be made? Alternative 1 Alternative 2 Occ Alternative 3 State of Nature C State of Nature B ES $ & 7 3 8 5 6 P E R . G F. H K K

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