1) Build-Rite Construction has received favorable publicity from guest appearances on a public TV home improvement...

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1) Build-Rite Construction has received favorable publicity from guest appearances on a public TV home improvement program. Public TV programming decisions seem to be unpredictable, so Build-Rite cannot estimate the probability of continued benefits from its relationship with the show. Demand for home improvements next year may be either low or high. But Build-Rite must decide now whether to hire more employees, do nothing, or develop subcontracts with other home improvement contractors. Build-Rite has developed the following payoff table: Alternative Low Hire Moderate High ($139,000) $183,000 $448,000 Subcontract $85,000 $158,000 $587,000 Do nothing $100,000 $143,000 $411,000 Which alternative is best, according to each of the following decision criteria? a. Maximin b. Maximax c. Laplace d. Minimax Regret 1) Build-Rite Construction has received favorable publicity from guest appearances on a public TV home improvement program. Public TV programming decisions seem to be unpredictable, so Build-Rite cannot estimate the probability of continued benefits from its relationship with the show. Demand for home improvements next year may be either low or high. But Build-Rite must decide now whether to hire more employees, do nothing, or develop subcontracts with other home improvement contractors. Build-Rite has developed the following payoff table: Alternative Low Hire Moderate High ($139,000) $183,000 $448,000 Subcontract $85,000 $158,000 $587,000 Do nothing $100,000 $143,000 $411,000 Which alternative is best, according to each of the following decision criteria? a. Maximin b. Maximax c. Laplace d. Minimax Regret