(Steps Shown) The following is an opportunity loss table. States of Nature Alternatives A B C Alternative 1 20 100 0 Alternative 2 15 0 50 Alternative 3
Question: The following is an opportunity loss table.
| States of Nature | |||
| Alternatives | A | B | C |
| Alternative 1 | 20 | 100 | 0 |
| Alternative 2 | 15 | 0 | 50 |
| Alternative 3 | 0 | 40 | 160 |
What decision should be made based on the minimax regret criterion? (Minimax regret criterion is based on opportunity loss)
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