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John Connor and his friends are planning a recreational outing and have constructed the following payoff...

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Statistics

  1. John Connor and his friends are planning a recreational outingand have constructed the following payoff table to help them decidewhich activity to engage in. Assume that the payoffs representtheir level of death and dismemberment for each activity under thevarious possibilities for sentient cybernetic organisms they mayencounter. They have no idea which of the terminators, the T-X, theT-1000, or the T-100, they might encounter on their outing.

Picnic

Rappelling

Disable Skynet

T-X

100

150

75

T-1000

150

125

100

T-100

200

50

125

  1. If the group is optimistic, what decision should they make? [5Marks]
  2. If the group is conservative, what decision will they make? [5Marks]
  3. If the group chooses to minimize their maximum regret, whatactivity will they choose? [5 Marks]
  4. If the probabilities of the T-X, T-1000, and T-100 are 0.2,0.4, and 0.4, respectively, then what decision should be made usingthe expected value criterion? [5 Marks]

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