A person is trying to decide if they should buy a lottery ticket. The ticket costs $2.00. If the ticket is a winner, the prize would be $1,000. Knowing that winning $1,000 is not a certain outcome (state of nature) , the person finds that the probability of winning is 0.001. Based on this information, the following payoff table can be constructed: 
What is the decision using a maximax or optimistic approach?
Definitions:
Managerial Positions
Roles within an organization characterized by responsibilities of overseeing and directing operations or people.
Collective Learning
The process by which a group, organization, or society accumulates knowledge and skills, often leading to innovation and improved performance.
Self-efficacy
An individual's belief in their own ability to accomplish tasks and achieve goals.
Inspiring Speeches
Oratory delivered with the intent to motivate, encourage, or instill a sense of purpose or passion in the audience.
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