Question: Given is a decision payoff table. Future Demand Moderate 21 Alternatives Small Facility Medium Facility Large Facility Low 26 18 -7 18 22 31 30

Given is a decision payoff table. Future Demand

Given is a decision payoff table. Future Demand Moderate 21 Alternatives Small Facility Medium Facility Large Facility Low 26 18 -7 18 22 31 30 42 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 = 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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