Assignment:
An investor is consider 4 different opportunities, A, B, C, or D. The payoff for each opportunity will depend on the economic conditions, represented in the payoff table below.
Economic Condition
Poor Average Good Excellent
Investment (S1) (S2) (S3) (S4)
A 50 75 20 30
B 80 15 40 50
C 100 300 50 10
D 25 25 25 25
What decision would be made under maximax?
Provide complete and step by step solution for the question and show calculations and use formulas.