If the decision maker knows nothing about the probabilities of the four states of nature, what is the recommended decision using MAXIMAX CRITERION? D1 D2 D3 D4 What decision alternative will he choose if using MAXIMIN CRITERION? D1 D2 D3 D4 What about MINIMAX REGRET CRITERION? D1 D2 D3 D4 What decision would he make if using criterion of realism at alpha 0.6 is used? D1 D2 D3 D4
If the decision maker knows nothing about the probabilities of the four states of nature, what is the recommended decision using MAXIMAX CRITERION? D1 D2 D3 D4 What decision alternative will he choose if using MAXIMIN CRITERION? D1 D2 D3 D4 What about MINIMAX REGRET CRITERION? D1 D2 D3 D4 What decision would he make if using criterion of realism at alpha 0.6 is used? D1 D2 D3 D4
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.6: Permutations
Problem 11E
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If the decision maker knows nothing about the probabilities of the four states of nature, what is the recommended decision using MAXIMAX CRITERION?
D1
D2
D3
D4
What decision alternative will he choose if using MAXIMIN CRITERION?
D1
D2
D3
D4
What about MINIMAX REGRET CRITERION?
D1
D2
D3
D4
What decision would he make if using criterion of realism at alpha 0.6 is used?
D1
D2
D3
D4
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