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Problem 13-01 (Algorithmic) The following payoff table shows profit for a decision analysis problem with two...

Problem 13-01 (Algorithmic) The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature: State of Nature Decision Alternative S1 S2 S3 d1 260 140 100 d2 170 130 50 Choose the correct decision tree for this problem. (i) d2d1s3s2s1s3s2s1 (ii) d2d1s3s3s2s2s1s1 (iii) s3s2s1d2d1d2d1d2d1 (iv) d2d1s3s2s1s3s2s1 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? Optimistic approach Conservative approach Minimax regret approach

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