Blackboard Learn https://learn.senecacollege.ca/ultra/courses/_647028_1/cl/outline By beginning this assessment, I affirm that I will not give or receive any unauthorized help on this assessment and that all work provided will be my own. I agree to abic Instructions Fill in the blank questions. Multiple Attempts This test allows 2 attempts. This is attempt number 2 Force Completion This test can be saved and resumed later. Your answers are saved automatically. Question Completion Status QUESTION 1 Your restaurant chain is considering 3 different alternatives to respond to the tightening public health measures. The following table shows the 3 alternatives, the colour-coded tiers (Le. states of nature) and their payof Alternative : Prevent Protect Restrict Control $400,DO0 $150,000 -$30,200 $80,000 $650,000 $200,000 -$80,0100 $200,000 3 $300,000 $100,000 $20,000 So What would be your choice if you were optimistic about the future? Write down the Alternative # in the box: What would be your bout the future? Write down the Allemative # in the box: If you believed that there is equal chance for each state of nature to happen, what would be your choice? Write down the Alternative # in the box Regret Table ($) Alternative # Prevent Protect Restrict Control Worst 250000 2 0 N 350000 Using minimax regret, find out the values of D to O: (No need to write down the $ sign and the thousand separator, e.g. if your answer is $10,000, write down 10000) If minimax regret is to be adopted, which alternative should be selected? Write down the Alternative # in the box: Click Save and Submit to save and submit. Click Save All Answers to save all answers. earch O m WE