Brandon University (see Case Problem 1.2) is a small university that would like to increase revenues (including tuition, donations, and grants) by expanding its student base and building ties with businesses in the surrounding area. To do so, it is considering establishing a new graduate program- 0 an MBA, a masters in computer science, a masters in information technology, a masters in nursing (affiliated with a hospital), or a masters in health-care administration. In addition to generating additional enrolment within a new program, administrators also believe that a new graduate program could increase exposure and visibility for the school and enhance its reputation as a whole, which could also result in increased enrolment and revenue sources. The cost to establish and maintain each new program differs according to faculty salaries, facilities, and the support necessary to attract new students, which, in turn, affects revenues. The degree of success that each new graduate program might achieve is affected by competition from other colleges and universities, and the ability of a program to attract new faculty and students. The following payoff table summarizes the possible gains (i.e., revenues less costs) the university might realize with each new program under different future success scenarios. Graduate Program MBA Computer Science Information Technology Nursing Health Administration Program Success Unsuccessful Moderately Successful Successful Very Successful - $316,000 $231,000 -210,000 190,000 305,000 205,000 180,000 -472,000 -135,000 -75,000 -$57,000 -35,000 -75.000 81,000 55,000 Determine the best decision for the university using the following criteria: a. Maximax b. Maximin $424,000 375,000 517,000 307,000 245,000

Brandon University (see Case Problem 1.2) is a small university that would like to increase revenues (including tuition, donations, and grants) by expanding its student base and building ties with businesses in the surrounding area. To do so, it is considering establishing a new graduate programan MBA, a masters in computer science, a masters in information technology, a masters in nursing (affiliated with a hospital), or a masters in health-care administration. In addition to generating additional enrolment within a new program, administrators also believe that a new graduate program could increase exposure and visibility for the school and enhance its reputation as a whole, which could also result in increased enrolment and revenue sources. The cost to establish and maintain each new program differs according to faculty salaries, facilities, and the support necessary to attract new students, which, in turn, affects revenues. The degree of success that each new graduate program might achieve is affected by competition from other colleges and universities, and the ability of a program to attract new faculty and students. The following payoff table summarizes the possible gains (i.e., revenues less costs) the university might realize with each new program under different future sircess scenarios. Determine the best decision for the university using the following critera: a. Maximax b. Maximin