Even though independent pancine stations have been having a difficult time, Ion Largolla has been thinking about starting his own independent gasoline station, fan's problem is to decide how large hin stition should be the annual returns will depend on both the size of his station and a number of marketing factor related to the oil industry and demand for gasoline. After a careful analysis, Ian developed the following table: States of Nature Size of First Station Good Market Fair Market Poor Market Small $40,000 $18,000 $8.000 Medium $90,000 $27.000 $22.000 Large $105,000 $27,500 - $36,000 Very Large $320,000 $26.000 -$180,000 For example, if an constructs a small station and the market is good, he will realize a profit of $40,000 This exercise contain only parts, and d. b) Uning the decision making under uncertainty with the criterion of Maximax The appropriate decision will be very large The value of the retum under this decision is $320000 c) Using the decision making under uncertainty with the criterion of Maximin The appropriate decision will be Small elp/que The value of the retum under this decision is $ - 8000 4) Using the decision making under uncertainty with the criterion of Enly Likely dy The appropriate decision will be Ehou Cilick to select your answerte) and then click Check Answer. Help Me Solve This e Text Pages Get More Help Clear All Final Check A TR 21.00 MACBOOK