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chimeric chimeric
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6 years ago
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 $100. If the manager chooses a small facility and demand is high, the payoff is $300. 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 Laplace criterion?
(b) What would be the best decision based on Hurwicz's criterion of realism using α = 0.6?
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Quantitative Analysis for Management

Quantitative Analysis for Management


Edition: 12th
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TheBatTheBat
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chimeric Author
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6 years ago
Thanks
Jodias
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
rene_ram97
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2 hours ago
Just got PERFECT on my quiz
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