16. Prepare a decision evaluation matrix for the design alternatives in Problem 15 and then choose the alternative that is best under the following decision rules: Laplace, maximax, maximin, and Hurwicz with a = 0.6. Assume that the choice is under uncertainty. ribed image text 15. The design of a system is to be pursued from one of two available alternatives. Each alterna. tive has a life-cycle cost associated with an expected future. The costs for the corresponding futures are given in the following table (in millions of dollars). If the probabilities of occur. rence of the futures are 30%, 50%, and 20%, respectively, which alternative is most desirable from an expected cost viewpoint.Use an interest rate of 10%? Design 1 Years Future 1 2 3 4 5 6 7 8 9 10 11 12 0.4 0.6 0.8 0.8 0.8 0.8 0.8 Optimistic Expected Pessimistic 0.6 0.8 0.8 0.9 5.0 1.0 1.0 7.0 5.0 7.0 10.0 10.0 1.0 1.2 1.0 1.2 0.8 1.0 1.2 1.0 1.2 1.0 1.2 0.8 1.0 1.2 0.8 1.0 1.2 Design 2 Years Future 1 2 3 4 5 6 7 8 9 10 11 12 3.0 2.5 2.5 2.5 Optimistic Expected Pessimistic 0.4 0.6 0.6 0.4 0.8 0.8 0.4 1.0 1.0 1.0 3.0 5.0 6.0 6.0 3.0 3.1 2.5 3.0 3.1 3.0 3.1 2.5 3.0 3.1 2.5 3.0 3.1 3.0 3.1 2.5 3.0 3.1