payoff table

4) Based on the following payoff table, answer the following:

Alternative High Low

Buy 90 −10

Rent 70 40

Lease 60 55

Prior Probability 0.4 0.6

The maximin strategy is:

A) Buy.

B) Rent.

C) Lease.

D) High.

E) Low.

MGMT 430 Quiz 3 Name:_________________