Question: Using the seven steps of the quantitative analysis approach, model the decision in the face of uncertainty in setting up a fast food restaurant or

Using the seven steps of the quantitative analysis approach, model the decision in the face of uncertainty in setting up a fast food restaurant or clothing store. Choose the name and location of both establishments. Also perform decision analysis on uncertainty using the data in the table. The student will assume that this data comes from the company. Based on these criteria the student must make a decision.  Favorable economy Unfavorable economy Maximax Maximin Hurwicz Laplace Minimax Fast food 350.00 -250,000 Clothes 75,000 -30,000

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