Question: l. A contractor must make a decision on capacity for next year. Estimated prots under each of the two possible states of nature are shown

l. A contractor must make a decision on capacity for next year. Estimated prots under each of the two possible states of nature are shown below: (5.) Which alternative should be selected if the decision criterion is Maximax? (b) If you feel that P{#Low) = .3, P(#High) = 0.7, what is your expected payoff under certainty

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