Question: Example High Alternatives Small facility Medium facility Large facility 10 Possible future demand (mil Low Moderate 10 7 -4 2. 10 12 12 16 1.

Example High Alternatives Small facility Medium facility Large facility 10 Possible future demand (mil Low Moderate 10 7 -4 2. 10 12 12 16 1. Determine the best alternative in the payoff table for each of the cases: It is known with certainty that demand will be (a) low, (b) moderate, (c) high. 2. determine which alternative would be chosen under each of these strategies: (a) Maximin, (b) Maximax, (c) Laplace, (d) minimax regret. 3. Using the expected monetary value criterion, identify the best alternative for the previous payoff table for these probabilities: low = .30, moderate = 50, and high = 20

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