Question: Given the following conditional value table, determine the appropriate decision under uncertainty using maximax, maximin, equally likely methods. Alternatives Large plant Small plant Overtime Do

Given the following conditional value table,

Given the following conditional value table, determine the appropriate decision under uncertainty using maximax, maximin, equally likely methods. Alternatives Large plant Small plant Overtime Do nothing Very Favorable Market $275,000 $200,000 $100,000 $0 States of Nature Average Market $100,000 $60,000 $40,000 $0 Unfavorable Market - $150,000 - $10,000 - $1,000 $0 a) Using the maximax method, the appropriate decision is with a value of return of $ (enter your response as a whole number). b) Using the maximin method, the appropriate decision is with a value of return of $ (enter your response as a whole number). c) Using the equally likely method, the appropriate decision is with a value of return of $ (enter your response as a whole number). Enter your answer in each of the answer boxes. O Type here to search L M W 61% 8:13 PM 11/7/2020

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