Given is a decision payoff table. Answer all questions below.
Future Demand
Alternatives Low Moderate High
Small Facility 35 28 29
Medium Facility 22 36 26
Large Facility -7 27 35
a) The best payoff for small facility is = ____________
b) The worst payoff for medium facility is =_________________
c) The average payoff for large facility is = (in 2 decimal places) ________________
d) The worst regrets for small facility is = ____________
e) The worst regrests for medium facility is =_______________
f) The best decision by using OPTIMISTIC is to select the facility______________
g) The best decision by using CONSERVATIVE is to select the facility_______________
h) The best decision by using LAPLACE/EQUALITY LIKELY is to select the facility_______________
i) The best decision by using MINIMAX REGRET is to select the facility________________