Chapter 4

medium, and long implementation durations. Use the Excel template Decision Analysis to identify what vendor to select. answers to the nearest cent. Conduct a decision analysis to evaluate the choice of a vendor. The aggressive strategy (maximax) is to choose the The conservative strategy (maximin) is to choose the The opportunity loss strategy is to choose the Decision Analysis (C) Cengage Learning Enter the data only in the yellow cells. Not for commercial use. This template is designed to allow up to 5 decision alternatives and future events. Enter names of decision alternatives and future events in the appropriate cells in column A or K and row 7. Probabilities are optional. \begin{tabular}{|l|l|} \hline Maximax Decision & Build new plant \\ \hline Maximin Decision & Expand existing plant \\ \hline Opportunity Loss Decision & Build new plant \\ \hline Expected Value Decision & \multicolumn{1}{|c|}{ \#N/A } \\ \hline EVPI & \multicolumn{1}{|c|}{ N/A } \\ \hline \end{tabular}