Question

Problem 1)Today's Electronics specializes in manufacturing modem electronic components. It also builds the equipment that produces the components. Phyllis Weinberger, who is responsible for advising the president of Today's Electronics on electronic manufacturing equipment, has developed the following table concerning a proposed facility: 3 PAYOFFS Outcomes StrongPoor marketmarket 4 Alternatives S Large facility 6 Medium-sized facility 7 Small facility 8 No facility 9 50,000-310,000 300,000 -100,000 200,000-32,000 0 0 What is the optimistic decision? What is the pessimistic decision? What is the equally likely decision? What is the criterion of realism decision? Use an a value of 0.8. Develop an opportunity loss table. What is the minimax regret decision?