Question: 15 Given the following conditional value table, determine the appropriate decision under uncertainty using a) maximax b) maximin c) equally likely PX STATES OF NATURE

15 Given the following conditional value table,

15 Given the following conditional value table, determine the appropriate decision under uncertainty using a) maximax b) maximin c) equally likely PX STATES OF NATURE VERY FAVORABLE AVERAGE UNFAVORABLE ALTERNATIVES MARKET MARKET MARKET Large plant $275,000 $100,000 -$150,000 Small plant $200,000 $ 60,000 -$ 10,000 Overtime $100,000 $ 40,000 -$ 1.000 Do nothing $ $ 0 $ 0 $ 0

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