Action You miss the Niners Niners game. TV fails or Lose Win Traffic jam A1 Watch Niners 40 90 100 Game at Home A2 Go to Niners 20 75 150 Game
Action You miss the Niners Niners game. TV fails or Lose Win Traffic jam A1 Watch Niners 40 90 100 Game at Home A2 Go to Niners 20 75 150 Game
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Question
5
Transcribed Image Text:The table below provides the outcomes in terms of from three choices. You do not
know the probabilities assigned to each outcome.
Outcomes
МaxiMin
MiniMax
Criterion
Regret
Criterion
Action
You miss the Niners
Niners
game. TV
fails or
Lose
Win
Traffic jam
A1
Watch
Niners
40
90
100
Game at
Home
A2
Go to
Niners
20
75
150
Game
1. If you use the MaxiMin criterion, which action would you choose? Explain.
2. If you use the MiniMax Regret criterion, which action would you choose?
Explain.
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