Use the following to answer the questions below.
In choosing between three new jobs, Joe MBA considers the potential payoffs over the next three years. The following table contains the payoffs, given the speed of promotion in each of the organizations. The probability of fast promotion is 0.6, and the probability of slow promotion is 0.4.

-Use the information in Table A.3 and the minimax regret decision rule. The maximum regret is:
A) less than $300,000 if the high-flying consultant job is selected.
B) less than $300,000 if the utility analyst job is selected.
C) less than $300,000 if the research assistant job is selected.
D) lowest for the research assistant job.

Question

Use the following to answer the questions below.
In choosing between three new jobs, Joe MBA considers the potential payoffs over the next three years. The following table contains the payoffs, given the speed of promotion in each of the organizations. The probability of fast promotion is 0.6, and the probability of slow promotion is 0.4.
 
-Use the information in Table A.3 and the minimax regret decision rule. The maximum regret is:
A) less than $300,000 if the high-flying consultant job is selected. 
B) less than $300,000 if the utility analyst job is selected. 
C) less than $300,000 if the research assistant job is selected. 
D) lowest for the research assistant job.

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The Answer of Use the following to answer the questions below.
In choosing between three new jobs, Joe MBA considers the potential payoffs over the next three years. The following table contains the payoffs, given the speed of promotion in each of the organizations. The probability of fast promotion is 0.6, and the probability of slow promotion is 0.4.
 
-Use the information in Table A.3 and the minimax regret decision rule. The maximum regret is:
A) less than $300,000 if the high-flying consultant job is selected. 
B) less than $300,000 if the utility analyst job is selected. 
C) less than $300,000 if the research assistant job is selected. 
D) lowest for the research assistant job.

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