Consider the Following Decision Table with Rewards in $ Millions

question 7

Multiple Choice

Consider the following decision table with rewards in $ millions. $\begin{array}{r}\text { State of Nature }\\(\begin{array}{|c|c|c|c|}\hline\text { Decision Alternatives } & S_{1} & S_{2} & S_{3} \\\hline d_{1} & -1 & 2 & 8 \\\hline d_{2} & -3 & x & 5 \\\hline d_{3} & -0.5 & 0.75 & 1 \\\hline d_{4} & 0 & 0 & 0 \\\hline d_{5} & -1 & -1 & -1\\\hline\end{array}\end{array}$ If you are using the maximax criterion and decide d₁, then x is ______.

• A)at least 8
• B)more than 8
• C)at most 5
• D)less than 8
• E)at most 2

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Definitions:

Agriculture

The science, art, and practice of cultivating soil, producing crops, and raising livestock.

Nonrenewable Fossil Fuel Energy

Energy sources like coal, oil, and natural gas that cannot be replenished in a short period and are extracted from the earth's crust.

Agriculture

The science and practice of cultivating plants and livestock, a fundamental sector that supplies the world with food, raw materials, and employment.

Solar Energy

Energy from the sun that is converted into thermal or electrical energy.