Question: DECISION ANALYSIS PROBLEM Use this information to answer the following questions. ABC Inc. must make a decision on its current capacity for next year. Estimated

DECISION ANALYSIS PROBLEM Use this information to

DECISION ANALYSIS PROBLEM Use this information to answer the following questions. ABC Inc. must make a decision on its current capacity for next year. Estimated profits (in $000s) based on next year's demand are shown in the table below. Alternative Expand Subcontract Do Nothing Next Year's Demand Low High $100 $200 $50 $120 $40 $50 Refer to the information above. A. Which alternative should be chosen based on the maximax criterion? B. Which alternative should be chosen based on the maximin criterion? C. Which alternative should be chosen based on the Laplace criterion? (must show calculations) D. Which alternative should be chosen based on criterion of realism with alpha = 0.72 (must show calculations) E. Which alternative should be chosen based on the minimax regret criterion? (must show calculations)

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