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Section B: Decision Making Techniques (Total Marks: 33 marks) Question 4 (6 marks) Three mutually exclusive investment projects are under consideration. The payoffs under different
Section B: Decision Making Techniques (Total Marks: 33 marks) Question 4 (6 marks) Three mutually exclusive investment projects are under consideration. The payoffs under different business conditions are estimated as follows: Project A Project B Project C Good Condition +$100,000 +$80,000 +$60,000 Fair Condition +$90,000 +$120,000 +$85,000 Bad Condition -$20,000 +$10,000 +$85,000 Note: Negative Values mean losses; Positive Values mean profits. Required: What will be the decision rules under Maximax Rule, Maximin Rule and Minimax regret Rule
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