A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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Question
The following payoff table summarises a decision problem:
R(D,X)
X1
X2
X3
d1
d2
d3
P(X=x¡)
32
43
69
D
20
83
41
89
13
57
0.18
0.33
0.49
Determine the best decision based on the maximin criterion.
(Enter the index/number corresponding to the best decision.)
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Transcribed Image Text:The following payoff table summarises a decision problem: R(D,X) X1 X2 X3 d1 d2 d3 P(X=x¡) 32 43 69 D 20 83 41 89 13 57 0.18 0.33 0.49 Determine the best decision based on the maximin criterion. (Enter the index/number corresponding to the best decision.)
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