Solved: Decisions using the mini-max regret approaches, Accounting Basics

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Decisions using the mini-max regret approaches

Question: The following payoff table shows the profit for a decision problem with three states of nature and two decision alternatives:

State of Nature

DA    s1    s2    s3
d1    -20    40    100
d2    10    45    70

I need to make a decisions using the mini-max regret approaches and justify the decisions?

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Accounting Basics: Decisions using the mini-max regret approaches

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