Question: eferring to the pay-off table, determine which alternative would be chosen under each of these strategies: Possible future demand in OMR Alternative Low Medium High

eferring to the pay-off table, determine which alternative would be chosen under each of these strategies:

Possible future demand in OMR

Alternative

Low

Medium

High

A

12

15

15

B

10

13

16

C

6

8

19

For the data in above table, assume probabilities of: (low demand) = 0.15, (medium demand) = 0.55, and (high demand) = 0.3.

Using a Minimax regret approach the value of the lowest regret is.

(Write the number only)

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