SCENARIO 19-2
the Following Payoff Matrix Is Given in Dollars $\quad$

question 7

Multiple Choice

SCENARIO 19-2
The following payoff matrix is given in dollars. $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Action }$
$\begin{array}{l}\begin{array} { c c c } \text { Event } & A & B \\\hline 1 & 400 & 700 \\2 & 200 & 500\end{array}\end{array}$ Suppose the probability of Event 1 is 0.5 and Event 2 is 0.5.
-Referring to Scenario 19-2, what is the best action using the maximax criterion?

• A) Action A
• B) Action B
• C) Either Action A or Action B
• D) It cannot be determined.

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Meditation

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