Question: Please help me with the questions. Thanks for your help. National Outdoor School is preparing a summer campsite in the heart of Alaska to train
Please help me with the questions. Thanks for your help.
National Outdoor School is preparing a summer campsite in the heart of Alaska to train individuals in wilderness survival. NOS estimates that the attendance can fall into one of four categories 200.250.300 and 350 persons. The cost of a campsite will be minimum if it is built to meet the demand exactly. Deviations above or below the ideal demand levels incurs additional costs resulting from building surplus capacity or lost income opportunities when some of the demand is not satisfied. The following table summarizes the cost matrix in thousands of dollars for the situation. The probabilities are equal likely. 300 28 200 25 28 31 30 250 20 17 28 32 22 200 250 300 350 350 15 13 11 15 Com al 22 29 Recommend a course of action for the National Outdoor School, based on each of the four criteria of decision under uncertainty (Maximin, Maximax, Minimax Regret, and Expected Value) 
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