Question: 6. Use the following chart to answer the question Type of Property Favorable Market Unfavorable Market Apartment 250,000 280,000 Warehouse 175,000 150,000 Night Club 275,000

6. Use the following chart to answer the question
6. Use the following chart to answer the question
6. Use the following chart to answer the question Type of Property Favorable Market Unfavorable Market Apartment 250,000 280,000 Warehouse 175,000 150,000 Night Club 275,000 -50,000 a) What decision would you make using Maximax criterion (show your work) b) What decision would you make if you were 80% sure the market would be favorable & 20% sure it would be unfavorable c) What decision would you make if you were equally as sure the market would be favorable or unfavorable (50%/50%) d) Create an opportunity loss table What decision would minimize the expected opportunity loss

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