Question: Small Bus Medium Bus Large Bus Low 25 35 35 Demand Moderate 70 60 55 High 75 75 85 Answer the following 4 (four) questions.

Small Bus Medium Bus Large Bus Low 25 35 35
Small Bus Medium Bus Large Bus Low 25 35 35 Demand Moderate 70 60 55 High 75 75 85 Answer the following 4 (four) questions. If he uses the maximin criterion, which size bus will he decide to purchase? If he uses the Laplace criterion, which size bus will he decide to purchase? If he uses the minimax regret criterion, which size bus will he decide to purchase? If he calculates the chances of low, moderate, and high demand are 20%, 20%, and 60% respectively, what is the expected annual profit for the bus that he will decide to purchase

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