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Pleas show the solution with MS Excel Use Excel to answer this problem. Filename: Lastname_Decision Analysis Write your name in cell A1. PROBLEM STATEMENT Jayzee
Pleas show the solution with MS Excel
Use Excel to answer this problem. Filename: Lastname_Decision Analysis Write your name in cell A1. PROBLEM STATEMENT Jayzee electronics is thinking of expanding its business. The following are the alternatives the owner has as to the size of the building he is going to construct. States of Nature ($) Favorable Size of the Building Market Unfavorable Market Small 10,000.00 -3,000.00 Medium 12,500.00 -5,000.00 Large 18,000.00 -10,000.00 QUESTIONS: 1.) If Jayzee is an optimistic decision maker, what alternative will he select and how much is his payoff? 2.) If Jayzee is a pessimistic decision maker, what alternative will he select and how much payoff will he receive? 3.) If Jayzee decides to use Criterion of Realism with a coefficient of realism of 0.70, what is the size of the building will he construct and how much payoff can he 4.) If Jayzee decides to use Equally Likely, what alternative will he select and how much payoff will he get? 5.) If Jayzee decides to use Minimax Regret, what alternative will he choose and much loss will he expect? getStep by Step Solution
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