Question: All drop down choices are : do nothing overtime subcontract build new plant Must choose one of these Given the following conditional value table: Alternatives
All drop down choices are :
do nothing
overtime
subcontract
build new plant
Must choose one of these
Given the following conditional value table: Alternatives Build new plant Subcontract Overtime Do Nothing Very Favorable Market $250,000 $270,000 $100,000 States of Nature Average Market $180,000 $185,000 $50,000 Unfavorable Market - $200,000 - $220,000 -$12,000 $0 $0 $0 a) Using the decision making under uncertainty with the criterion of Maximax The appropriate decision will be The value of the return under this decision is $ . b) Using the decision making under uncertainty with the criterion of Maximin The appropriate decision will be The value of the return under this decision is $ . c) Using the decision making under uncertainty with the criterion of Equally Likely The appropriate decision will be The value of the return under this decision nter your answer as a whole number)
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