Assignment:
A payoff table is given as
a. What choice should be made by the optimistic decision maker?
b. What choice should be made by the conservative decision maker?
c. What decision should be made under minimax regret?
d. If the probabilities of E, F, and G are .2, .5, and .3, respectively, then
e. What choice should be made under expected value?
f. What is the EVPI?
Provide complete and step by step solution for the question and show calculations and use formulas.