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  3. 2 a payoff table is given as state of nature...

Question: 2 a payoff table is given as state of nature...

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2. A payoff table is given as State of Nature S2 Decision di d2 S1 10 14 S3 15 a. What decision should be made by the optimistic decision maker? b. What decision should be made by the pessimistic decision maker? c. What decision should be made under minimax regret? d. If the probabilities of si, s2, and s3 are .2, 4, and 4, respectively, then what decision should be made under expected monetary value? e. Using the probabilities in d), what is the EVPI?
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