Question: Using the decision table from Problem 17.36, choose the best order size of magazines using the following criterion: a. Maximax b. Maximin c. Equally likely
Using the decision table from Problem 17.36, choose the best order size of magazines using the following criterion:
a. Maximax
b. Maximin
c. Equally likely
d. Minimax regret
e. Hurwicz using a = 0.3 The Shoprite grocery store places orders each week for an entertainment magazine that it stocks on the shelves next to the cashiers. The newsstand price for the magazine is $5 and the cost per magazine from the publisher is $3. Shoprite can return any unsold magazines at the end of the week for a 50ยข credit. Answer the following questions using weekly order sizes and demand levels of 200, 400, and 600 magazines.AppendixLO1
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