Files 1:46 AM Sat Mar 25 Test_1_SEND Home Insert Formulas Data Review View Draw Sort Ascending Sort Descending Custom Sort Fier Show Detail Hide Detail fx A C D E F G H 1 1 K L M N P a 1 Question 4 29 Points 2 Minimax etc. 3 4 There are two outcomes: a good market and a bad market, The decision table is presented below. There are four alternatives: do nothing, build a small plant, build a medium-size plant, and build a large plant. S PAYOFFS Outcomes 6 Alternatives Good market Bad market 7 Do nothing 50 50 8 Small Plant $30,000 ($10,000) 9 Mediam Plant $100,000 ($15,000) 10 Large Plant $200,000 ($30,000) So you are to workout the Maximas, the Maximin, the Equally skely the Hurwicz based on a 11 probability and the regret using 11 minimas In words give the answers to these 12 questions What are your answers 13 under Best payoff option for 14 maximas Best payoff option for 15 maximinis 16 Best payoff option for equally likely is Best payoff option for 17 Hurwiczis Put a Bold Box around the word 18 Outcomes 19 Keep the Bad Market amounts in Red In Make the type style Ariel and Size 12 in 20 Black 21 22 23 24 25 26 Question 1 Question 2 Question 3 Question 4 Question 5 + 100% Q R