Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as...
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Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as an evaluation criterion to evaluate alternatives. Alternatives Small Facility Medium Facility Large Facility Alternatives Small Facility Medium Facility Low 20 8 -9 Future Demand Moderate 11 16 12 Worst Regrets ? ? High ? 8 12 20 Large Facility The worst regrets for alternative Small Facility is Blank 1b) The worst regrets for alternative Medium Facility is Blank 2c) The worst regrets for alternative Large Facility is Blank 3d) The best course of action or decision by using Minimax Regret is to select Blank 4 facility Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as an evaluation criterion to evaluate alternatives. Alternatives Small Facility Medium Facility Large Facility Alternatives Small Facility Medium Facility Low 20 8 -9 Future Demand Moderate 11 16 12 Worst Regrets ? ? High ? 8 12 20 Large Facility The worst regrets for alternative Small Facility is Blank 1b) The worst regrets for alternative Medium Facility is Blank 2c) The worst regrets for alternative Large Facility is Blank 3d) The best course of action or decision by using Minimax Regret is to select Blank 4 facility
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To find the worst regrets for each alternative and determine the best course of action using the Minimax Regret criterion we need to calculate the reg... View the full answer
Related Book For
Operations Management Processes and Supply Chains
ISBN: 978-0133872132
11th edition
Authors: Lee J. Krajewski, Manoj K. Malhotra, Larry P. Ritzman
Posted Date:
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