Can someone please show me the steps to do this? Payoff information for ABC Company is...
Can someone please show me the steps to do this?
- Payoff information for ABC Company is given in the following table for each alternative decision.
|
Decision |
Good Foreign Competitive Condition |
Poor Foreign Competitive Condition |
|
Expand |
$800,000 |
$500,000 |
|
Maintain Status Quo |
$1,300,000 |
$-150,000 |
|
Sell now |
$320,000 |
$320,00 |
a) Determine the best decision using maximax, maximin, and minimax regret
b) Develop a decision tree to determine the best decision with probabilities assuming 0.7 probability of good condition, 0.3 of poor conditions
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Can someone please show me the steps to do this?
Payoff information for ABC Company is...
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