Question: Q 1 ) Decision Making under Uncertainty Using the data in the table to the right, value what alternative would you select under the following

Q1) Decision Making under Uncertainty Using the data in the table to the right, value what alternative would you select under the following five (5) decision-making criteria. You need to show all work and all values to receive full credit for this question. Be careful: these are costs! Consider turning all the values negative from the start to make your calculations easy. Optimistic (Maximax) Pessimistic (Maximin) Criterion of Realism (Hurwicz Criterion, use Alpha =0.75) Min-Max Regret (you need to calculate the Min-Max Regret Matrix to receive full credit). The Min-Max Regret Matrix is also known as the Opportunity Loss Matrix.

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