Figure shows a printout from a program which does the calculations for decision criteria.
Describe the criteria that it uses and design your own spreadsheet to check the results.
What results would other criteria give?

Transcribed Image Text:

INFORMATION ENTERED NUMBER OF STATES: NUMBER OF ALTERNATIVES: NUMBER OF CRITERIA CHOSEN: HURWICZ COEFFICIENT: 0.3 PAYOFF TABLE VALUE OF EACH ALTERNATIVE 1.00 3.00 6.00 8.00 6.00 5.00 7.00 4.00 2.00 9.00 9.00 3.00 4.00 7.00 4.00 2.00 5.00 6.00 5.00 1.00 6.00 1.00 8.00 6.00 2.00 4 RESULTS CRITERION 1. MAXIMAX 2. MINIMIN 3. LIKELIHOOD 4. MINIMAX REGRET 5. HURWICZ RULE ALTERNATIVE PAYOFF 9.00 3.00 5.40 5.00 4.80 АЗ A3 АЗ END OF ANALYSIS