Question: Hello, may you answer this question ASAP and I will rate a thumbs up? 1) In decision making, regret is defined as: Select one: a.
Hello, may you answer this question ASAP and I will rate a thumbs up?
1)
In decision making, regret is defined as:
Select one:
a. The minimum loss of the best scenario
b. The ratio between the worst-case scenario and the average payoff
c. The maximum payoff that we did not obtain because we made a different decision
d. The difference between the maximum payoff and the minimum payoff in a state of nature
e. The difference between the best payoff that was available and the payoff of the choice we made, when all the external factors have been clearly defined and the resultant situation has now been identified
Give your reasons
2)
In facility location, the method that identifies the coordinates of the already existing facilities, in order to decide where the new one is going to be located is known as:
Select one:
a. Location factor rating
b. Center of gravity technique
c. Load-distance method
d. Cartesian method
e. Centroid method
3)
In facility location, the types of facilities are:
Select one:
a. Renewable energy facilities, fossil fuel facilities, and net zero facilities
b. Facilities located by center of gravity, and located by other means
c. Facilities with product manufacturing, and facilities with service-oriented business
d. Pre-existing facilities, non-existing facilities and potential facilities
e. Heavy-manufacturing, light-industries & retail and service facilities
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