Robert Ragsdale is trying to decide if he should purchase repair and replacement insurance on a new

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Robert Ragsdale is trying to decide if he should purchase repair and replacement insurance on a new laptop computer that he is planning to purchase. The policy costs $400.00 at the time of purchase, and over the next three years will replace the laptop if it is stolen or repair it if it is broken. The following table contains the total costs of this decision.
Robert Ragsdale is trying to decide if he should purchase

Which alternative is best, according to each of the following decision criteria?
a. Maximin
b. Maximax
c. Laplace
d. Minimax regret

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Operations Management Processes and Supply Chains

ISBN: 978-0133872132

11th edition

Authors: Lee J. Krajewski, Manoj K. Malhotra, Larry P. Ritzman

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