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Consider the following payoff table that represents the profits earned for each alternative (A, B, and C) under the states of nature S1, S2, and S3.
S1 S2 S3
A $60 $145 $120
B $75 $125 $110
C $95 $85 $130
Refer to the payoff table. Using the maximin criterion, what would be the highest expected payoff?
A) $145
B) $125
C) $85
D) $75
E) $60
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