Problems must be completed on Excel

Question Set 1. Samsung is considering different R&D paths for the upcoming year's release. The four strategies (along with changing nothing) under consideration are: Decrease Depth: Decrease the depth of the phones without affecting other specs More Battery Power: increase battery capacity of phones by 10% . Mixed: Combine above two strategies somehow .No Change: Do not change anything, buyers seem content The outcomes of the possible strategies (in millions of dollars) depend on how the competitors behave. Samsung considers four different outcomes, which are not shared, say A, B, C and D. Negative values indicate loss for Samsung and positive values indicates possible profits.1 Scenarios Strate Decrease Deptha More Battery Power Mixeda No Change 35% 20% 25A 15A 145 60K 45% 50P 50% 150 75% 90% 40% 85 For the following questions, you will use Excel to identify the best strategy according to various criteria. You only need to perform the necessary calculations to show which one is best. For example, the first question is for maximax. You need to set up formulas to find the maximum payoff for each strategy and to then find the highest value among them. However, once you have calculated that highest value, you can just type in the corresponding strategy without any further Excel calculations. 1. What would be Samsung's decision using the maximax criterion? (3pts) 2. What would be Samsung's decision using the maximin criterion? (3pts) 3. What would be Samsung's decision using the Laplace criterion? (3pts) 4. What would be Samsung's decision using the minimax regret criterion? It is helpful to construct a regret table for this problem. (6pts) Question Set 1. Samsung is considering different R&D paths for the upcoming year's release. The four strategies (along with changing nothing) under consideration are: Decrease Depth: Decrease the depth of the phones without affecting other specs More Battery Power: increase battery capacity of phones by 10% . Mixed: Combine above two strategies somehow .No Change: Do not change anything, buyers seem content The outcomes of the possible strategies (in millions of dollars) depend on how the competitors behave. Samsung considers four different outcomes, which are not shared, say A, B, C and D. Negative values indicate loss for Samsung and positive values indicates possible profits.1 Scenarios Strate Decrease Deptha More Battery Power Mixeda No Change 35% 20% 25A 15A 145 60K 45% 50P 50% 150 75% 90% 40% 85 For the following questions, you will use Excel to identify the best strategy according to various criteria. You only need to perform the necessary calculations to show which one is best. For example, the first question is for maximax. You need to set up formulas to find the maximum payoff for each strategy and to then find the highest value among them. However, once you have calculated that highest value, you can just type in the corresponding strategy without any further Excel calculations. 1. What would be Samsung's decision using the maximax criterion? (3pts) 2. What would be Samsung's decision using the maximin criterion? (3pts) 3. What would be Samsung's decision using the Laplace criterion? (3pts) 4. What would be Samsung's decision using the minimax regret criterion? It is helpful to construct a regret table for this problem. (6pts)