Mathematics, 05.05.2020 17:25 rolo7105
A manager is deciding whether or not to build a small facility. Demand is uncertain and can be either at a high or low level. If the manager chooses a small facility and demand is low, the payoff is $300. If the manager chooses a small facility and demand is high, the payoff is $100. On the other hand, if the manager chooses a large facility and demand is low, the payoff is -$200, but if demand is high, the payoff is $800.
(a) What would be the best decision based on the maximax criterion?
(b) What would be the best decision based on the maximin criterion?
(c) What would be the best decision based on the minimax regret?
Answers: 3
Another question on Mathematics
Mathematics, 20.06.2019 18:04
The ratio of blue cards to green cards is 2 to 5. there are 8 blue cards. complete the diagram and explain how you can find the number of green cards.
Answers: 1
Mathematics, 20.06.2019 18:04
7friends share 4 pizzas equally how much pizza did each friend get
Answers: 1
Mathematics, 21.06.2019 15:00
Find the product of (4x + 3y)(4x − 3y). 16x2 − 24xy + 9y2 16x2 − 9y2 16x2 + 24xy + 9y2 16x2 + 9y2
Answers: 1
Mathematics, 21.06.2019 16:00
Choose the point slope form of the equation below that represents the like that passes through the points (-6,4) and (2, 0)
Answers: 1
You know the right answer?
A manager is deciding whether or not to build a small facility. Demand is uncertain and can be eithe...
Questions
Mathematics, 22.01.2021 19:10
English, 22.01.2021 19:10
Chemistry, 22.01.2021 19:10
Mathematics, 22.01.2021 19:10
Biology, 22.01.2021 19:10
English, 22.01.2021 19:10
Business, 22.01.2021 19:10
