Question: Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as an evaluation criterion to evaluate alternatives. Future Demand Alternatives

Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as an evaluation criterion to evaluate alternatives. Future Demand Alternatives Low Moderate High Small Facility 311815 Medium Facility 203521 Large Facility -103135 Alternatives Worst Regrets Small Facility ? Medium Facility ? Large Facility ? a) The worst regrets for alternative Small Facility is Blank 1b) The worst regrets for alternative Medium Facility is Blank 2c) The worst regrets for alternative Large Facility is Blank 3d) The best course of action or decision by using Minimax Regret is to select Blank 4 facility

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!