The following table shows the expected costs for 3 states of nature and 5 decision alternatives. Which decision alternative would the optimistic decision maker choose? Enter 1, 2, 3, 4 or 5.
|
|
State of nature
|
|
Decision Alternative
|
1
|
2
|
3
|
|
1
|
70
|
68
|
39
|
|
2
|
10
|
55
|
56
|
|
3
|
67
|
49
|
15
|
|
4
|
55
|
75
|
57
|
|
5
|
70
|
63
|
16
|