Question: Problem 5S-1 (Static) A small building contractor has recently experienced two successive years in which work opportunities exceeded the firm's capacity The contractor must now

Problem 5S-1 (Static) A small building contractor has recently experienced two successive years in which work opportunities exceeded the firm's capacity The contractor must now make a decision on capacity for next year. Estimated profits under each of the two possible states of nature are as shown in the table below. Alternative Do nothing Expand Subcontract NEXT YEAR'S DEMAND LOW High $50 560 20 30 40 20 moes Profit in $thousands Click here for the Excel Data File Which alternative should be selected the decision criterion is (Enter your answers in thousands) Payo Atamatie Chenon Maximak Main Laplace Minimax regret d

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