Question: Given the following payoff table, determine the appropriate decision using the maxi- min rule. States of Nature Favorable Average Unfavorable Alternatives Market Market Market $100,000

Given the following payoff table, determine the

Given the following payoff table, determine the appropriate decision using the maxi- min rule. States of Nature Favorable Average Unfavorable Alternatives Market Market Market $100,000 Build new $350,000 $240,000 plant Subcontract $180,000 $90,000 Overtime $110,000 $60,000 $50,000 $40,000 Select one: O a. Build new plant O b. Subcontract O c. Overtime

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