The payoff table for a maximization problem is given below.
Decision Alternative | State of nature, s1 | State of nature, s2 |
d1 | 8 | 10 |
d2 | 0 | 6 |
d3 | 5 | 0 |
d4 | 14 | 5 |
What is the recommended decision alternative using the conservative approach?
d1 |
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d4 |
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d2 |
||
d3 |
here minimum of d1 =8
minimum of d2 =0
minimum of d3 =0
minimum of d4 =5
cause maximum of minimum values is from decision d1
hence from conservative approach recommended decision is d1
The payoff table for a maximization problem is given below. Decision Alternative State of nature, s1...
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