Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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  1. Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as an evaluation criterion to evaluate alternatives.

     
     
    Future Demand
     
    Alternatives
    Low
    Moderate
    High
    Small Facility
    14
    12
    13
    Medium Facility
    -1
    17
    23
    Large Facility
    -5
    11
    29
     
    Alternatives
    Worst Regrets
    Small Facility
    ?
    Medium Facility
    ?
    Large Facility
    ?
     
    a) The worst regrets for alternative Small Facility is 
     
    b) The worst regrets for alternative Medium Facility is 
     
    c) The worst regrets for alternative Large Facility is 
     
    d) The best course of action or decision by using Minimax Regret is to select (           ) facility
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