Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Related questions
Question
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|
States of Nature
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||
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Alternatives
|
Very Favorable
Market
|
Average
Market
|
Unfavorable
Market
|
|
Build new plant
|
$300,000
|
$210,000
|
−$280,000
|
|
Subcontract
|
$160,000
|
$100,000
|
−$15,000
|
|
Overtime
|
$120,000
|
$70,000
|
−$8,000
|
|
Do Nothing
|
$0
|
$0
|
$0
|
Using the decision making under uncertainty with the criterion of
Maximax the appropriate decision will be...
(Do Nothing)
(Build new plant)
(Overtime)
(Subcontract)
The value of the return under this decision is
Using the decision making under uncertainty with the criterion of
Maximin the appropriate decision will be...
(Subcontract)
(Overtime)
(Do Nothing)
(Build new plant)
The value of the return under this decision is
Using the decision making under uncertainty with the criterion of
Equally Likely the appropriate decision will be
(Do Nothing)
(Subcontract)
(Build new plant)
(Overtime)
The value of the return under this decision is
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