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Construct a decision tree analysis for the following problem: begin{tabular}{|l|l|l|l|l|l|l|} hline multirow{2}{*}{ Alternatives } & multicolumn{2}{|l|}{ State of Nature } & Maximax & Maximin &
Construct a decision tree analysis for the following problem:
\begin{tabular}{|l|l|l|l|l|l|l|} \hline \multirow{2}{*}{ Alternatives } & \multicolumn{2}{|l|}{ State of Nature } & Maximax & Maximin & Laplace \\ \cline { 2 - 8 } & Big 0.3 & Average 0.5 & Small 0.2 & & & \\ \hline Large Stock & $22,000 & $12,000 & $2,000 & 22,000 & 2000 & 10667 \\ \hline Average Stock & 14,000 & 10,000 & 6,000 & 14,000 & 6,000 & 10,000 \\ \hline Small Stock & 9,000 & 8,000 & 4,000 & 9000 & 4000 & 7000 \\ \hline Final Decision & & & & 22000 & 6000 & 10,667 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|} \hline \multirow{2}{*}{ Alternatives } & \multicolumn{2}{|l|}{ State of Nature } & \multirow{2}{*}{ Highest Regrets } \\ \cline { 2 - 5 } & Big (0.3) & Average (0.5) & Small (0.2) & \\ \hline Large Stock & 0 & 0 & 8000 & 8000 \\ \hline Average Stock & 8000 & 2000 & 0 & 8000 \\ \hline Small Stock & 13000 & 4000 & 2000 & 13000 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|l|l|} \hline \multirow{2}{*}{ Alternatives } & \multicolumn{2}{|l|}{ State of Nature } & Maximax & Maximin & Laplace \\ \cline { 2 - 8 } & Big 0.3 & Average 0.5 & Small 0.2 & & & \\ \hline Large Stock & $22,000 & $12,000 & $2,000 & 22,000 & 2000 & 10667 \\ \hline Average Stock & 14,000 & 10,000 & 6,000 & 14,000 & 6,000 & 10,000 \\ \hline Small Stock & 9,000 & 8,000 & 4,000 & 9000 & 4000 & 7000 \\ \hline Final Decision & & & & 22000 & 6000 & 10,667 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|} \hline \multirow{2}{*}{ Alternatives } & \multicolumn{2}{|l|}{ State of Nature } & \multirow{2}{*}{ Highest Regrets } \\ \cline { 2 - 5 } & Big (0.3) & Average (0.5) & Small (0.2) & \\ \hline Large Stock & 0 & 0 & 8000 & 8000 \\ \hline Average Stock & 8000 & 2000 & 0 & 8000 \\ \hline Small Stock & 13000 & 4000 & 2000 & 13000 \\ \hline \end{tabular}Step by Step Solution
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