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Problem 1 . Four outsource contracts are being considered for a major product line. The long term forecast for sales depends on what the economic
Problem Four outsource contracts are being considered for a major product line. The long term forecast for sales depends on what the economic factors Eco as well as the demand taken by competition Comp Eco has two levels: Up and Down, while the demand taken by the competition can be High or Low. This results in four states of nature. What is the optimistic descion? the conservative decision? the minmax regret decision?
tableLong term forecastsEco: U Comp: HEco: D Comp: HEco: U Comp: Eco: D Comp:
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