A person is trying to decide if he or she 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 that uses a maximin approach?
Definitions:
Snowball Sampling
A recruitment technique in research where existing study subjects recruit future subjects from among their acquaintances, creating a "snowball" effect.
Availability Sampling
A non-probability sampling technique where samples are selected based on their availability or ease of access.
Probability Sampling
A sampling method in which every member of the population has a known, non-zero chance of being selected.
Sampling Technique
The method or process used to select samples from a population for research purposes.
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