Based on the following payoff table, answer the following:
$$\begin{array} { | l | r | r | r |}
\hline { \text { Alternative } } & \text { High } & { \text { Medium } } & { \text { Low } } \
\hline \text { A } & 20 & 20 & 5 \
\hline \mathrm { B } & 25 & 30 & 11 \
\hline \mathrm { C } & 30 & 12 & 13 \
\hline \mathrm { D } & 10 & 12 & 12 \
\hline \mathrm { E } & 50 & 40 & - 28 \
\hline \text { Prior Probability } & 0.3 & 0.2 & 0.5 \
\hline
\end{array}$$
The maximin strategy is:
A) A.
B) B.
C) C.
D) D.
E) E.

Question

Based on the following payoff table, answer the following:
$$\begin{array} { | l | r | r | r |} 
\hline { \text { Alternative } } & \text { High } &  { \text { Medium } } &  { \text { Low } } \
\hline \text { A } & 20 & 20 & 5 \
\hline \mathrm { B } & 25 & 30 & 11 \
\hline \mathrm { C } & 30 & 12 & 13 \
\hline \mathrm { D } & 10 & 12 & 12 \
\hline \mathrm { E } & 50 & 40 & - 28 \
\hline \text { Prior Probability } & 0.3 & 0.2 & 0.5 \
\hline
\end{array}$$
The maximin strategy is:
A) A.
B) B.
C) C.
D) D.
E) E.

Quizplus · Accepted Answer

The maximin strategy involves choosing the alternative with the highest minimum payoff. For each alternative, the minimum payoffs are: A = 5, B = 11, C = 12, D = 10, E = -28. Alternative C has the highest minimum payoff of 12.

Based on the Following Payoff Table, Answer the Following The Maximin Strategy Is: A) A

Based on the Following Payoff Table, Answer the Following The Maximin Strategy Is:
A) A