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Question 1: The Brampton Honda Dealership is considering expanding its showroom facility. The following table shows the 3 alternatives, the states of nature and their
Question 1: The Brampton Honda Dealership is considering expanding its showroom facility. The following table shows the 3 alternatives, the states of nature and their payoffs: Small Medium Large Facility Facility Facility Low demand $30,000 $25,000 -$20,000 Medium demand $30,000 $50,000 $20,000 High demand $27,000 $48,000 $65,000 What would your decision be if the following rules are applied? (show your calculation) a) Maximax b) Maximin c) La Place d) Minimax-regret
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