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Optimistic decision maker

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Reference no: EM131109189

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

Reference no: EM131109189

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