Answer the following four questions using the information below McDonalds is about to open a new store Three locations are under consideration, with possible outcomes (depending on demand) as shown in the table to the right Assume that the probabilities of demand states are not known ( i e , uncertainty) Demand Location Low Medium High Large 40 100 200 Medium 70 120 140 Small 100 110 130 A B C D E F Using the Maximin criterion, which location size(s) will be best A B C D E F Using the minimax regret criterion, which location size(s) will be best A B C D E F Using the Maximax criterion, which location size(s) will be best A B C D E F Using the Laplace criterion, which location size(s) will be best A Small B Medium C Large D Small or Medium E Small or Large F Medium or Large

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Question: Answer the following four questions using the information below: McDonalds is about to open a new store. Three locations are under consideration, with possible outcomes

Answer the following four questions using the information below:

McDonalds is about to open a new store. Three locations are under consideration, with possible outcomes (depending on demand) as shown in the table to the right. Assume that the probabilities of demand states are not known (i.e., uncertainty).

	Demand
Location	Low	Medium	High
Large	40	100	200
Medium	70	120	140
Small	100	110	130

- A. B. C. D. E. F.	Using the Maximin criterion, which location size(s) will be best?
- A. B. C. D. E. F.	Using the minimax regret criterion, which location size(s) will be best?
- A. B. C. D. E. F.	Using the Maximax criterion, which location size(s) will be best?
- A. B. C. D. E. F.	Using the Laplace criterion, which location size(s) will be best?

A.	Small
B.	Medium
C.	Large
D.	Small or Medium
E.	Small or Large
F.	Medium or Large

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