Homework SourseWhat is the maximax decision Maximin decision Equally likely
What is the maximax decision
Maximin decision
Equally likely decision
Criterion of realism decision
Solution
Maximax decision is 420000 which corresponds to very large
Maximin decision is -14000 which is small
Equally likely decision is 77000(EMV) which corresponds to very large
Criterion of realism is 72333.33 which corresponds to very large.
| Maximax decision is 420000 which corresponds to very large Maximin decision is -14000 which is small Equally likely decision is 77000(EMV) which corresponds to very large Criterion of realism is 72333.33 which corresponds to very large. |
