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Answer the following questions: The following is an opportunity loss table.
Answer the following questions: The following is an opportunity loss table.States of NatureAlternatives A B CAlternative 1 30 0 10Alternative 2 5 20 0Alternative 3 0 20 25What decision should be made based on the minimax regret criterion? Alternative 1 Alternative 2 Alternative 3 State of Nature CIn a good regression model the residual plot shows a cone pattern. an arched pattern. a random pattern. an increasing pattern.The following is a payoff table giving profits for various situations.States of NatureAlternatives A B CAlternative 1 120 140 120Alternative 2 200 100 50Alternative 3 100 120 180Do Nothing 0 0 0What decision would a pessimist make? Alternative 1Alternative 2Alternative 3 Do Nothing
