Decision Making Problem (Part 1):

What would a decision maker do who follows the maximax decision rule?

Decision Making Problem (Part 2):

What would a decision maker do who wants to minimize the maximum opportunity losses?

Decision Making Problem (Questions 32 - 33): Intro The manager of a construction company must decide whether to build single family homes, apartments, or condominiums. Profits (in thousands of dollars) are given in the following table and depend on various possible population trends (declining, stable, growing). Payoff table (in thousands of dollars): Population Declining Stable Growing Single Family Homes 220 80 75 Apartments 85 175 100 Condominiums 30 90 240