Find the Given Payoff table and use Minimax regret to evaluate best decisions. Demand Low Moderate 24 22 -1 27 -5 21 Decision Small Warehouse Medium Warehouse Large Warehouse High 23 33 39

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.4: Multiple Regression Models
Problem 12P
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Find the Given Payoff table and use Minimax regret to evaluate best decisions.
Demand
Moderate
22
27
21
Decision
Small Warehouse
Medium
-1
Warehouse
Large Warehouse -5
Medium Warehouse
Data inadequate
Small Warehouse
Low
24
Large Warehouse
High
23
33
39
Transcribed Image Text:Find the Given Payoff table and use Minimax regret to evaluate best decisions. Demand Moderate 22 27 21 Decision Small Warehouse Medium -1 Warehouse Large Warehouse -5 Medium Warehouse Data inadequate Small Warehouse Low 24 Large Warehouse High 23 33 39
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