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Statistics and Probability On observing the market trends, the company decides to plan and prepare for inflation. The disaster management team came up with the

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Statistics and Probability On observing the market trends, the company decides to plan and prepare for inflation. The disaster management team came up with the following sales gures for multiple scenarios. The company looks at the following decisions {1] build a new warehouse, [2} increase current warehouse capacity, and {3] no change. Which decisions would the company take in each of the optimistic, conservative, and minmax approaches? The revenue projects in each scenario are as given in the table below. High Impact Medium Impact No Impact New Warehouse T1400 215500 264?00 Increase Capacity 94150 140000 152000 No Change 103450 95000 83500

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