PAYOFFS
Alternatives Good Fair Poor Maximum Choice Minimum Choice Average Choice Realism Choice
Small $70,000 $28,000 -$14,000 $70,000
-$14,000 Best $28,000 $53,200
REGRET
Alternatives Good Fair Poor Max regret Choice
Problem 8-24
(c) Equally Likely
(d) Hurwicz
(e) Minimax
Outcomes
Outcomes
(a) Maximax
(b) Maximin