This regret matrix gives values for strategies S1, S2, and S3 for ...

[HudsonKB16]

This regret matrix gives values for strategies S1, S2, and S3 for the Bigg Company and competitive strategies CA1, CA2, and CA3 for the Large Company. A minimax Bigg manager choosing S3 would have a greatest possible regret of 2.
 
  CA1 CA2 CA3
  S1 5 5 3
  S2 9 6 1
  S3 10 2 5
 
  Indicate whether the statement is true or false.

Question 2

Decision trees are unreliable for making pricing decisions.
 
  Indicate whether the statement is true or false.

[jliusyl]

Answer to Question 1

Answer: TRUE
Explanation: The greatest possible regret would be 10.

Answer to Question 2

Answer: FALSE
Explanation: Decision trees are useful for making hiring, marketing, investment, equipment, purchasing, and pricing decisions.

[HudsonKB16]

Thanks for the timely response, appreciate it

[ricroger]

Great answer, keep it coming