Question: question 1 1. Given the following conditional value table of profits, determine the appropriate decision under uncertainty using: (a) Maximax (b) Maximin (c) Criterion of

question 1
question 1 1. Given the following conditional value table of profits, determine

1. Given the following conditional value table of profits, determine the appropriate decision under uncertainty using: (a) Maximax (b) Maximin (c) Criterion of realism with a = 0.3 (d) Equally likely (e) Minimax Regret Alternatives Large Plant Small Plant Overtime Do Nothing States of Nature Average Market $100,000 Very Favorable Market $275,000 $200,000 $100,000 0 60,000 $ 40,000 0 Unfavorable Market -$150,000 -$10,000 -$ 1,000 0

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