Question: a-d is one problem 1. Given the following conditional value table, determine the appropriate decision under uncertainty using: (a) The optimistic approach. (b) The conservative

a-d is one problem

1. Given the following conditional value table, determine the appropriate decision under uncertainty using: (a) The optimistic approach. (b) The conservative approach. (c) The minimax regret approach. (d) Construct a decision tree for this problem. Alternatives Build new plant Subcontract Overtime Do nothing State of Nature Very Favorable Average Market Market $350,000 $240,000 $180,000 $ 90,000 $110,000 $ 60,000 $ 0 $0 Unfavorable Market -$300,000 -$ 20,000 -$ 10,000 $0

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