Assume that the probabilities of demand in Problem 28 are no longer valid; the decision situation is

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Assume that the probabilities of demand in Problem 28 are no longer valid; the decision situation is now one without probabilities. Determine the best number of boxes of cards to stock, using the following decision criteria.

a. Maximin

b. Maximax

c. Hurwicz 1a = .42

d. Minimax regret LO.1

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Introduction To Management Science

ISBN: 9781292092911

12th Edition

Authors: Bernard W. Taylor

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Question Posted: Jul 27, 2024 08:01 AM

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Assume that the probabilities of demand in Problem 28 are no longer valid; the decision situation is

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Introduction To Management Science

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