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    Decision Analysis with Payoff Tables and States of Nature

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    A payoff table is given as
    .....

    a. What choice should be made by the optimistic decision maker?
    b. What choice should be made by the conservative decision maker?
    c. What decision should be made under minimax regret?
    d. If the probabilities of E, F, and G are .2, .5, and .3, respectively, then
    e. What choice should be made under expected value?
    f. What is the EVPI?

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    https://brainmass.com/math/complex-analysis/decision-analysis-with-payoff-tables-and-states-of-nature-45868

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    Decision Analysis with Payoff Tables and States of Nature are investigated. The solution is detailed and well presented.

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