Create sensitivity graph comparing di?erent alternatives

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Reference no: EM131148685

MedStar Health is expanding into Virginia. The firm must select one location where it can build a clinic to serve patients. The following table lists the expected profits for clinics in three locations and the expected probabilities of the two possible situations: high numbers of patients utilizing the clinic or low numbers of patients utilizing the clinic. Location High (0.75) Low (0.25) Alexandria $1,500,000 $600,000 Woodbridge $950,000 $900,000 Leesburg $1,200,000 $200,000 Find the best decision using the following: a. Develop a payo? table for this situation. b. Find the following: 1. Maximax 2. Maximin 3. Equal likelihood 4. Minimax regret c. Create a sensitivity graph comparing the di?erent alternatives as the probability of numbers of patient’s changes.

Reference no: EM131148685

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