Question: 6. Note: The following is a COST table, so base your decision making criteria on lowest costs instead of best payoffs. (10 points) Microcomp is

6. Note: The following is a COST table, so base
6. Note: The following is a COST table, so base your decision making criteria on lowest costs instead of best payoffs. (10 points) Microcomp is a U.S.-based manufacturer of personal computers. It is planning to build a new manufacturing and distribution facility in either South Korea, China, Taiwan, the Philippines, or Mexico. It will take approximately 5 years to build the necessary infrastructure, construct the new facility, and put it into operation. The eventual cost of the facility will differ between countries and will even vary within countries depending on the financial, labor, and political climate, including monetary exchange rates. The company has estimated the facility cost (in $1,000,000s) in each country under three different future economic and political climates as follows: Country South Korea China Taiwan Phillippines Mexico Economic/Political State Decline Same Improve 21.5 17.1 15.2 19.0 18.0 14.6 19.2 17.1 13.9 21.5 16.8 11.8 25.0 21.2 12.5 Determine which country is the best decision using the following criteria. a.) Minimin b.) Minimax Regret c.) Hurwicz (a=.5) d.) Equal likelihood

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