Question
The concessionaire for Carnegie Hall has developed a table of conditional values for the various alternatives (stocking decision) and states of nature (size of crowd).
The concessionaire for Carnegie Hall has developed a table of conditional values for the various alternatives (stocking decision) and states of nature (size of crowd).
| Large | Average | Small |
Alternative 1 | 9,000 | 12,000 | -2,000 |
Alternative 2 | 22,000 | 6,000 | 6,000 |
Alternative 3 | 15,000 | 12,000 | 5,000 |
The concessionaire has no idea what sort of crowd might materialize it has been decades since the Del Aires last performed together, but there has been a resurgence in interest thanks to a re-release of the classic movie Horror of Party Beach.
If the concessionaire is using the Hurwicz criteria with alpha = 0.6, the stocking decision would be [ Select ] ["Alternative 2", "Alternative 3", "Alternative 1"] .
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