Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Re
ID: 329494 • Letter: G
Question
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
Alternatives
Worst Regrets
Small Facility
170
180
200
Small Facility
?
Medium Facility
160
200
220
Medium Facility
?
Large Facility
-40
210
310
Large Facility
?
a) The worst regrets for alternative Small Facility is Blank 1
b) The worst regrets for alternative Medium Facility is Blank 2
c) The worst regrets for alternative Large Facility is Blank 3
d) The best course of action or decision by using Minimax Regret is to select Blank 4 facility
Future Demand
Alternatives
Low
Moderate
High
Alternatives
Worst Regrets
Small Facility
170
180
200
Small Facility
?
Medium Facility
160
200
220
Medium Facility
?
Large Facility
-40
210
310
Large Facility
?
Explanation / Answer
Future Demand
Alternatives
Low
Moderate
High
Alternatives
Worst Regret?
Small Facility
170
180
200
Small Facility
30
Medium Facility
160
200
220
Medium Facility
60
Large Facility
-40
210
310
Large Facility
350
a) The worst regrets for alternative Small Facility is Blank 1
The regret for small facility will be:
Lowest value – highest value = worst regret
In this case:
Worst regret for small facility alternative will be:
200- 170 = 30
b) The worst regrets for alternative Medium Facility is Blank 2
The worst regret for medium facility will be:
220- 160= 60
c) The worst regrets for alternative Large Facility is Blank 3
Worst regret for large facility will be:
310- (-40) = 350
Future Demand
Alternatives
Low
Moderate
High
Alternatives
Worst Regret?
Small Facility
170
180
200
Small Facility
30
Medium Facility
160
200
220
Medium Facility
60
Large Facility
-40
210
310
Large Facility
350
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