Question: COMPLETE WOTH EXCEL AND SHOW EXCEL FORMULAS 1. Given the following conditional value table of profits, determine the appropriate decision under uncertainty using: (a) Maximax

COMPLETE WOTH EXCEL AND SHOW EXCEL FORMULAS

1. Given the following conditional value table of profits, determine the appropriate decision under uncertainty using: (a) Maximax (b) Maximin (c) Criterion of realism with a 0.3 (d) Equally likely (e) Minimax Regret Alternatives Large Plant Small Plant Overtime Do Nothing States of Nature Average Market $275,000 $100,000 $200,000 60,000 $100,000 $40,000 0 0 Very Favorable Market Unfavorable Market -$150,000 -$ 10,000 -$1,000 0

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