Decision Analysis Today's Electronics specializes in manufacturing modern electronic components. It also builds the equipment that produces the components. Phyllis Weinberger, who is responsible for advising the president of Today's Electronics on electronic manufacturing equipment, has developed the following table concerning a proposed facility: Profit ($) Strong Market Fair Market Poor Market Large facility 650,000 110,000 -310,000 Medium-sized facility 300,000 129,000 100,000 Small facility 200,000 100,000 -32,000 No facility 0 0 0 What decision should be taken using the: a) Optimistic (Maximax) criteria, b) Pessimistic (Maximin) criteria, c) Criterion of Realism (Hurwicz Criterion) with alpha (a) = 0.80, and d) Equally Likely (Laplace)? Requirement: Present your table as the basis of your answers. Regression Analysis A. Develop a regression model to predict the total number of victories based on the payroll. Use the model to predict the number of victories for a team with a payroll of $79 million. Based on the results of the computer output, discuss the relationship between payroll and victories. PAYROLL NUMBER OF TEAM ($1,000,000s) VICTORIES Baltimore Orioles 81.4 Boston Red Sox 173.2 Chicago White Sox 96.9 85 Cleveland Indians 78.4 68 Detroit Tiger 132.3 88 Kansas City Royals 60.9 72 Los Angeles Angels 1545 89 Minnesota Twins 94 1 New York Yankees 198.0 Oakland Athletics 55.4 Seattle Mariners 820 Tampa Bay Rays 64.2 Texas Rangers 120 Toronto Blue Jays 75.5B. Using the model W = Bo + BiERA + B2R + B3AVG + B4, how many wins (W) will a team make if: 1. ERA = 5.68, R = 817, AVG = 0.271, OBP = 0.348 2. ERA = 5.69, R = 819, AVG = 0.273, OBP = 0.350 3. ERA = 5.67, R = 815, AVG = 0.270, OBP = 0.347 ERA = 5.70, R = 816, AVG = 0.272, OBP = 0.349 5. ERA = 5.66, R = 818, AVG = 0.269, OBP = 0.346 TEAM W ERA R AVG OBP Baltimore Orioles 93 3.90 712 0.247 0:311 Boston Red Sox 59 734 0.260 0.315 Chicago White Sox 85 748 0.318 Cleveland Indians 68 667 0.251 0.324 Detroit Tigers 88 3.7 726 1:263 0.335 Kansas City Royals 72 4 30 676 0.265 0.317 Los Angeles Angels 89 4.02 767 0.274 0.332 Minnesota Twins 66 AT 701 0.260 0.325 New York Yankees 95 3.85 804 0.265 0.337 Oakland Athletics 94 3.48 713 0.238 0.310 Seattle Mariners 75 3.76 619 0.234 0.296 Tampa Bay Rays 90 3.19 697 0.240 0.317 Texas Rangers 93 3.99 808 0.273 0.334 Toronto Blue Jays 73 4.64 716 0.245 0:309 Forecasting A. Emergency calls to Winter Park, Florida's 911 system for the past 24 weeks are as follows: WEEK CALLS WEEK CALLS WEEK CALLS 50 35 17 55 35 20 18 40 UN 25 11 15 19 35 40 12 40 20 60 45 13 55 21 75 35 14 35 22 50 20 15 25 23 40 30 16 24 65 1. Compute for the 25" week using a: a. 2-Week Moving Average, b. 4-Week Moving Average, and C. 5-Week Moving Average 2. Compute for the 25" week using a: a. 2-Week Weighted Moving Average, b. 4-Week Weighted Moving Average, and c. 5-Week Weighted Moving Average.Use the following weights: * Last week = 0.75 Previous two weeks = 0.63 Previous three weeks = 0.54 Previous four weeks = 0.47 + Previous five weeks = 0.41 . Compute the exponentially smoothed forecast of calls for each week. Assume an initial forecast of 50 calls in the first week, and use a = 0.1. What is the forecast for week 257 (b) Reforecast each period using a = 0.6. Actual calls during week 25 were 85. Which smoothing constant provides a superior forecast