A conservative decision maker should choose which decision? Decision dl d2 d3 d4 d4 d1 d2 d2 or d3 d3 States of Nature s1 -300 1000 600 800 745 -260 200 -650 s3 1100 750 -400 900

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A conservative decision maker should choose which decision?
Decision
dl
d2
d3
d4
d4
d1
d2
d2 or d3
d3
States of Nature
s1
-300
1000
600
800
745
-260
200
-650
s3
1100
750
-400
900
Transcribed Image Text:A conservative decision maker should choose which decision? Decision dl d2 d3 d4 d4 d1 d2 d2 or d3 d3 States of Nature s1 -300 1000 600 800 745 -260 200 -650 s3 1100 750 -400 900
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Step 1

Coservative decision means maximin decision also.

First we will make table, 

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