Show All Workings

MGT 397, Chapter 12 Assignment An operations manager has compiled the information below for four manufacturing alternatives (A, B, C, and D) that vary by production technology and the capacity of the machinery. All choices enable the same level of total production and have the same lifetime. The three states of nature represent three levels of consumer demand for the firm's products. Values in the table are net present values of future profits in millions of dollars. Show your workings in a table d. Construct a regret table, and determine which alternative is best according to minimax regret criterion? e. If further study revealed that the probability of high demand is 0.5 , the probability of medium demand is 0.3 , and the probability of low demand is 0.2 , which alternative is best? f. If the coefficient of optimism () is 0.6, which alternative is best according to Hurwicz criterion