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- [–/1.14 Points] ASWMSCI15 13.E.009.DETAILS MY NOTES PRACTICE ANOTHER
11/9/24, 8:21 PM 407 Week 3: Homework#3 - MNS407 Management Science, Fall 2024 | WebAssign https://www.webassign.net/web/Student/Assignment-Responses/last?dep=35936173 4/11 Show My Work (Optional) This question has several parts that must be completed sequentially. If you skip a part of the question, you will not receive any points for the skipped part, and you will not be able to come back to the skipped part. Tutorial Exercise The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature. Decision Alternative States of Nature 230 80 5 80 80 55 (a) Construct a decision tree for this problem. (b) If the decision maker knows nothing about the probabilities of the three states of nature, what is the recommended decision using the optimistic, conservative, and minimax regret approaches? Show My Work (Optional) s1 s2 s3 d1 d2