points) The best selection of plant size depends on how the marketplace reacts to the new product line. To conduct an analysis, marketing management has decided to view the possible long-run demand as low, medium or high. The following payo table shows the projected prot in millions of dollars:

Plant Size

Small, d1 Large, d2

Long-Run Demand Low Medium High 150 200 200 50 200 500

Recommend a decision based on the use of the optimistic, conservative and minimax regret approaches. (Similar to problem 4.0.1 in notes)