The operations manager for a well-drilling company must recommend whether to build a new facility, expand his existing one, or do nothing. He estimates that long-run profits (in $000) will vary with the amount of precipitation (rainfall) as follows: PRECIPITATION ALTERNATIVE LOW NORMAL HIGH Do Nothing (100) 100 300 Expand 350 500 200 Build New 750 300 If he uses the Laplace criterion, which alternative will he decide to select? Multiple Choice expand either expand or build new do nothing either do nothing or expand If he uses the Laplace criterion, which alternative will he decide to select? Multiple Choice O expand O either expand or build new do nothing O either do nothing or expand O build new The operations manager for a well-drilling company must recommend whether to build a new facility, expand his existing one, or do nothing. He estimates that long-run profits (in $000) will vary with the amount of precipitation (rainfall) as follows: PRECIPITATION ALTERNATIVE LOW NORMAL HIGH Do Nothing (100) 100 300 Expand 350 500 200 Build New 750 300 @ if he uses the maximax criterion, which alternative will he decide to select? Multiple Choice build new either expand or build new expand