9.1. You are given the following payoff table (in units of thousands of dollars) for a decision analysis problem without probabilities. State of Nature Alternative S2 S3 A1 6 4 A2 4 Аз 8 1 Тext b. Which alternative should be chosen under the maximin criterion? 3.

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**9.1**. You are given the following payoff table (in units of thousands of dollars) for a decision analysis problem without probabilities.

| Alternative | State of Nature  |        |       |
|-------------|------------------|--------|-------| 
|             | \(S_1\)               | \(S_2\)     | \(S_3\)     | 
| \(A_1\)         | 6                | 2     | 4     | 
| \(A_2\)         | 3                | 4     | 3     | 
| \(A_3\)         | 8                | 1     | 5     | 

b. Which alternative should be chosen under the maximin criterion?
Transcribed Image Text:**9.1**. You are given the following payoff table (in units of thousands of dollars) for a decision analysis problem without probabilities. | Alternative | State of Nature | | | |-------------|------------------|--------|-------| | | \(S_1\) | \(S_2\) | \(S_3\) | | \(A_1\) | 6 | 2 | 4 | | \(A_2\) | 3 | 4 | 3 | | \(A_3\) | 8 | 1 | 5 | b. Which alternative should be chosen under the maximin criterion?
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