An investor is considering 4 investments, A, B, C and leaving his money in the bank. The payoff from each investment is a function of the economic climate over the next 2 years. The economy can expand or decline. The following payoff matrix has been developed for the decision problem.
A B C D
1 Payoff Matrix
2
3 Economy
4 Investment Decline Expand
5 A 0 85
6 B 25 65
7 C 40 30
8 Bank 10 10
What decision should be made according to the maximin decision rule?
1. A
2. B
3. C
4. Bank
What decision should be made according to the minimax regret decision rule
1. A
2. B
3. C
4. Bank
Answers: 2
Business, 21.06.2019 21:30
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Business, 22.06.2019 12:00
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