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    Decision Analysis with Payoff Tables and States of Nature

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    A payoff table is given as
    States of Nature
    ....
    a. What decision alternative would be made using a minimax regret?
    b. What decision alternative would be made by using a conservative approach
    c. What decision alternative would be made by using a maximax approach?

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    https://brainmass.com/math/complex-analysis/decision-analysis-payoff-tables-states-nature-45869

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    Decision Analysis with Payoff Tables and States of Nature are investigated.

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