Exhibit 14.9 The Following Questions Are Based on the Information Below

Short Answer

Exhibit 14.9
The following questions are based on the information below.
An investor is considering 4 investments, W, X, Y, and Z. The payoff from each investment is a function of the economic climate over the next 2 years. The economy can expand or decline. The following payoff matrix has been developed for the investment decision problem.

-Refer to Exhibit 14.9. What formula should go in cell D5 of the following Regret Table to implement the minimax regret decision rule? Assume that cells B5:C8 contain the regret values for the problem.