A manufacturing company plans to expand their production and logistics facility into one of the countries listed in the following table. The cost of building such facilities in each country differ based on the state of its economic and political climate. Three cost estimates were made per country in million dollars. What is the best decision alternative using MAXIMAX CRITERION and its cost? Economic/Political Climate Country Decline Same Improve South Korea 21.7 19.1 15.2 China 19.0 18.5 17.6 Taiwan 19.2 17.1 14.9 Philippines Мexico 22.5 16.8 13.8 25.0 21.2 12.5

A manufacturing company plans to expand their production and logistics facility into one of the countries listed in the following table. The cost of building such facilities in each country differ based on the state of its economic and political climate. Three cost estimates were made per country in million dollars. What is the best decision alternative using MAXIMAX CRITERION and its cost? Economic/Political Climate Country Decline Same Improve South Korea 21.7 19.1 15.2 China 19.0 18.5 17.6 Taiwan 19.2 17.1 14.9 Philippines Мexico 22.5 16.8 13.8 25.0 21.2 12.5

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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