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

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

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