Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Re
ID: 433467 • 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 High 29 26 35 Low Moderate 28 36 27 Alternatives Small Facility 35 Large Facility -7 Alternatives Worst Regrets Medium Facility22 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 facilityExplanation / Answer
Worst regret is when the organization loses maximum payoff.
Small facility = 35
Medium facility = 36
Large facility = 35
Low
Moderate
High
Minimax
Small
35
28
29
35
Medium
22
36
26
36
Large
-7
27
35
35
Minimax regret = Small or Large facility
Low
Moderate
High
Minimax
Small
35
28
29
35
Medium
22
36
26
36
Large
-7
27
35
35
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