Question: please help with part d) for the value of return. 154,000 is incorect. Even though independent gasoline stations have been having a difficut time, lan
Even though independent gasoline stations have been having a difficut time, lan Langolla has been thinking about starting his own independent gasoline station. lan's problem is be dec large his station should be. The annual retums will depend on both the size of his station and a number of marketing factors ralated to the oil industry and damand for gasoline. Atter a 0 analyais, lan developed the following table: For example, if tan constructs a small station and the market is good, he will realize a profit of $60,000. This exeroise contains an'y parts b. c. and d b) Using the decision making under uncertainty with the criterion of Maximax The appropriate decision will be The value of the return under this decision is $280.000. e) Using the decision making under uncertainty with the crterion of Maximin The appropelate decision will be The value of the return under this decsion is ? d) Using the decision making under unoertainty with the criterion of The appropriate decision will be The value of the return under this decision is $ fenter your answer as a whote number
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