Given the following profit payoff table, which decision would you choose based on a cautious decision approach? S1 $2 $3 d₁ 50 20 -10 d2 80 30 -20 d3 100 30 -40 d4 300 25 25 -160 O d₁ d2 Od₁ and d3 Od3 d4

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Given the following profit payoff table, which decision would you choose based on a cautious
decision approach?
S1
d₁
50
520
S2
$3
20
-10
d₂
80
d3
100
d4
300
55
330
-20
-40
25
-160
d1
d2
Od₁ and d3
○ d3
d4
Transcribed Image Text:Given the following profit payoff table, which decision would you choose based on a cautious decision approach? S1 d₁ 50 520 S2 $3 20 -10 d₂ 80 d3 100 d4 300 55 330 -20 -40 25 -160 d1 d2 Od₁ and d3 ○ d3 d4
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