Question
Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as an evaluation criterion to evaluate alternatives. Future Demand Alternatives
Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as an evaluation criterion to evaluate alternatives.
Future Demand
Alternatives
Low
Moderate
High
Small Facility
8
9
11
Medium Facility
6
11
12
Large Facility
-6
10
20
Alternatives
Worst Regrets
Small Facility
?
Medium Facility
?
Large Facility
?
a) The worst regrets for alternative Small Facility is
b) The worst regrets for alternative Medium Facility is
c) The worst regrets for alternative Large Facility is
d) The best course of action or decision by using Minimax Regret is to selectfacility
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