Use the decision table given here to complete parts (a) through (d). 1 answer below »

Use the decision table given here to complete parts (a) through (d).

a. Use the maximax criterion to determine which decision alternative to select.

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b. Use the maximin criterion to determine which decision alternative to select.

c. Use the Hurwicz criterion to determine which decision alternative to select.

Let

d. Compute an opportunity loss table from the data. Use this table and a minimax regret criterion to determine which decision alternative to select.

 

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