The lease of Theme Park, Inc., is about to expire. Management must decide whether to renew the
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The lease of Theme Park, Inc., is about to expire. Management must decide whether to renew the lease for another 10 years or to relocate near the site of a proposed motel. The town planning board is currently debating the merits of granting approval to the motel. A consultant has estimated the net present value of Theme Park’s two alternatives under each state of nature as shown on the following page.
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What course of action would you recommend using?
a. Maximax.
b. Maximin.
c. Laplace.
d. Minimaxregret.
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