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

question 113

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 maximin criterion?

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

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Definitions:

Innate Ability

A natural skill or talent an individual is born with, not acquired through learning.

Sophisticated Thinking

A high level of thought that includes abstract reasoning, problem-solving, and the ability to understand complex ideas and concepts.

Opposable Toes

Toes, particularly the big toe in humans, that can be moved to touch the other toes, enabling grasping motions.

Flexible Feet

A characteristic of some animals, allowing for a greater range of movement or adaptation to various terrains, contributing to their mobility and survival.