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4. A plant manager considers the operational cost per hour of five machine alternatives. The cost per hour is sensitive to three potential weather conditions:
4. A plant manager considers the operational cost per hour of five machine alternatives. The cost per hour is sensitive to three potential weather conditions: Ctrl cold, mild, and warm. The following table represents the operations cost per hour for each alternative-state of nature combination: States of Nature Weather related cost per hour Alternatives Cold Mild Warm cost/day cost/day cost/day Machine 1 $20 $33 $35 Machine 2 $35 $32 $36 Machine 3 $25 $35 $51 Machine 4 $42 $25 $38 Machine 5 $35 $31 $35 Using the optimistic criterion, which alternative is best
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