Question: QUESTION 1 Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as an evaluation criterion to evaluate alternatives. Future

QUESTION 1 Given is a decision payoff table and a

QUESTION 1 Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as an evaluation criterion to evaluate alternatives. Future Demand Low Moderate High Alternatives Small Facility 31 18 15 20 35 21 Medium Facility Large Facility -10 31 35 Alternatives Worst Regrets Small Facility ? Medium Facility ? Large Facility a) The worst regrets for alternative Small Facility is b) The worst regrets for alternative Medium Facility is c) The worst regrets for alternative Large Facility is d) The best course of action or decision by using Minimax Regret is to select facility 12 points Save

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