Question: Given the following conditional value table: Alternatives Build new plant Subcontract Overtime Do Nothing Very Favorable Market $300,000 $160,000 $120,000 $0 States of Nature Average

Given the following conditional value table:
Given the following conditional value table:
Given the following conditional value table:
Given the following conditional value table:
Given the following conditional value table: Alternatives Build new plant Subcontract Overtime Do Nothing Very Favorable Market $300,000 $160,000 $120,000 $0 States of Nature Average Market $210,000 $100,000 $70,000 $0 Unfavorable Market - $280,000 - $15,000 - $8,000 $0 a) Using the decision making under uncertainty with the criterion of Maximax a) Using the decision making under uncertainty with the criterion of Maximax The appropriate decision will be The value of the return under this decision is $ b) Using the decision making under uncertainty with the criterion of Maximin The appropriate decision will be The value of the return under this decision is $ b) Using the decision making under uncertainty with the criterion of Maximin The appropriate decision will be The value of the return under this decision is $ c) Using the decision making under uncertainty with the criterion of Equally Likely The appropriate decision will be The value of the return under this decision is $ (enter your answer as a whole number). b) Using the decision making under uncertainty with the criterion of Maximin The appropriate decision will be The value of the return under this c) Using the decision making under u Overtime Build new plant on of Equally Likely The appropriate decision will be Do Nothing The value of the return under this Subcontract your answer as a whole numbe

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