Decision Analysis ...

Use this data:

( Dollars are profit: S1 S2 A 1 Payoff 11 Payoff 12 A 2 Payoff 21 Payoff 22 A 3 Payoff 31 Pay off 32 Dollars are profit: Good Economic Condition Poor Economic Condition Alternative 1 30,000 10,000 Alternative 2 90,000 (30,000) Alternative 3 50,000 30,000 DECISIONS UNDER UNCERTAINTY DECISION DECISION )

(a) LaPlace 

(b) Minimax

(c) Minimax regret

(d) Maximin

(e) Hurwicz alpha

(f) Expected Value