Question: please provide best authentic answer Conditional values related to a decision making problem under uncertainty are given in the table bellow. What would be the


please provide best authentic answer
Conditional values related to a decision making problem under uncertainty are given in the table bellow. What would be the decision when using one of the following methods: 1. Maximax (optimistic) 2. Maximin (pessimistic) 3. Criterion of realism (Hurwicz) 4. Equally likely (Laplace) 5. Minimax regret ALTERNATIVE FAVORABLE MARKET ($) UNFAVORABLE MARKET Construct a large plant 220,000 -190,000 Construct a small plant 90,000 -30,000 Do nothing 0 0Step by Step Solution
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