Question: Given is a decision payoff table. Alternatives Low Small Facility 153 Medium Facility 29 Large Facility -5 Future Demand Moderate High 31 22 142 32

Given is a decision payoff table. Alternatives
Given is a decision payoff table. Alternatives
Given is a decision payoff table. Alternatives Low Small Facility 153 Medium Facility 29 Large Facility -5 Future Demand Moderate High 31 22 142 32 30 153 a) The best decision under uncertainty using MAXIMAX is to select facility b) The best decision under uncertainty using MAXIMIN is to select facility c) The best decision under uncertainty using LAPLACE/EQUALITY LIKELY is to select facility d) If the probabilities for Future Demand when it is Low = 0.35. Moderate - 0.30. and High = 0.35. the expected monetary value (EMV) for the large facility d) If the probabilities for Future Demand when it is Low=0.35, Moderate=0.30, and High = 0.35, the expected monetary value (EMV) for the large facility = e) If the probabilities for Future Demand when it is Low = 0.35, Moderate = 0,30. and High = 0.35. the best decision under risk is to select facility

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