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

Help!!
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 States of Nature Average Market $100,000 $60,000 $40,000 Unfavorable Market - $150,000 - $10,000 - $1,000 $0 $0 $0 a) Using the maximax method, the appropriate decision is V, with a value of return of $ (enter your response as a whole number). b) Using the maximin method, the appropriate decision is V, 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)Step by Step Solution
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