ou are choosing among three investment plans. The payoffs of these ...

     You are choosing   among three investment plans. The payoffs of these investment plans depend on   next year’s GDP (see the table below.) You believe that next year’s GDP will   decrease with a probability of 0.45, level with a probability of 0.25, and   increases with a probability of 0.3. GDP decreases GDP levels GDP increases   Plan 1 $11,500 $11,500 $11,500 Plan 2 $8,000 $15,000 $15,500 Plan 3 $10,000   $11,500 $13,000 [Choose the best answer.] Which plan should be chosen based   on the minimax regret criterion? A) Plan 1 B) Plan 2 C) Plan 3 D) Plan 1 or   Plan 2 E) Plan 2 or Plan 3 F) Plan 1 or Plan 3 G) There is not enough   information to decide. A B C D E F G