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?
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?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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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?
(solution should be written)
Transcribed Image Text: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
Transcribed Image Text:Select one:
O Mexico, 12.5
O Mexico, 25.0
O Improve, 12.5
O Decline, 25.0
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