Question: Can I recieve help with this? I previously submitted this question and the answer was wrong. 5. A manager is trying to decide whether to

Can I recieve help with this? I previously submitted this question and the answer was wrong.
5. A manager is trying to decide whether to build a small, medium or large facility. Demand can be high, average, or low, with the estimated probabilities being 0.3, 0.50, and 0.2, respectively. The following payoff table has been created to help with the decision: Decision High Demand Average Demand Low Demand Small Facility $115,000 $75,000 $15,000 Med Facility $155,000 $135,000 $30,000 Large Facility $195,000 $125,000 $65,000 Which alternative is best, according to each of the following decision criterion? a. Maximin b. Maximax C. Laplace d. Minimax regret e. Expected valueStep by Step Solution
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