• Construct a payoff table for the various demand and stocking quantities. Determine the best amount to stock using regret (minimax). A market buys T-bone steaks from a university’s animal science department. The purchase price is $2.50 per pound, and the market sells the stick for $4.00 per pound. Steak left over at the end of the week is sold to a local cannery for $0.50 per pound. According to sales records over the past 100 weeks, demand has been as follows:
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Weekly demand | Number of weeks 10 11 12 13 14 15 TOTAL 10 20 20 30 10 10 100