The following is an opportunity loss table Alternatives Stat

The following is an opportunity loss table

Alternatives State of Nature

A B C

Alternative 1 0 90 85

Alternative 2 50 0 110

Alternative 3 75 80 0

What decision should be made based on the minimax regret criterion?

a. Alternative1

b. state if nature a

c. Alternative 3

d. does not matter

e. Alternative 2

Solution

The following is an opportunity loss table Alternatives State of Nature A B C Alternative 1 0 90 85 Alternative 2 50 0 110 Alternative 3 75 80 0 What decision s

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