Decision made on the mini-max regret criterion

Reference no: EM1316225

Decision based on the Mini-max criterion.

The following is an opportunity loss table.

State of Nature Alternatives	A	B	C
Alternative 1	0	90	85
Alternative 2	50	0	110
Alternative 3	75	80	0

What decision should be made based on the mini-max regret criterion?

a. Alternative 1

b. Alternative 2

c. Alternative 3

d. Does not matter

e. State of nature A

Reference no: EM1316225

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