Question: Using the information below to create your Excel worksheet, answer the following questions. (This is a profit maximization problem). Payoffs States of Nature (Demand) MaxiMax

Using the information below to create your Excel

Using the information below to create your Excel worksheet, answer the following questions. (This is a profit maximization problem). Payoffs States of Nature (Demand) MaxiMax Maxi Min Alternatives Strong Medium Weak Maximum Choice Minimum Choice Option A 165 88 Option B 153 Option C 76 91 142 Regret States of Nature (Demand) Mini Max Alternatives Strong Medium Weak Maximum Choice Option A Option B Option C Which option is the best choice using Maxi Max? Select one: O a. Option A O b. Option B Ontions Which option is the best choice using Maxi Min? Select one: O a. Option A b. Option B O c. Optionc Which option is the best regret choice using MiniMax? Select one: O a. Option A O b. Option B c. Optionc

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