C. The following pay-off for three mutually exclusive projects: Future state of the market i. Which project would be choosen using the minimax regret decision rule? (5 marks) ii. Which project would be selected if the decision maker used the expected value rule? (5 marks) iii. What would be the value of perfect information about the future state of the market? (5 marks).
C. The following pay-off for three mutually exclusive projects: Future state of the market i. Which project would be choosen using the minimax regret decision rule? (5 marks) ii. Which project would be selected if the decision maker used the expected value rule? (5 marks) iii. What would be the value of perfect information about the future state of the market? (5 marks).