Question: The following payoff table provides profits based on various decision alternatives and various levels of demand. What is the MAXIMIN decision ( in other words,
The following payoff table provides profits based on various decision alternatives and various levels of demand. What is the MAXIMIN decision in other words, finding the best option out of the worst payoffs AlternativesStates of NatureHighModerateLowBuild a large facility$$$Build a medium facility$$$Build a small facility$$$Do nothing$$$Group of answer choicesMedium facilityLage facilitySmall facilityDo nothing
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