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Develop the information and identify the possible decisions

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Reference no: EM13888798 , Length: word count:500

A decision-maker is using the maximax, maximin, and LaPlace criteria for the problem below. Develop the information and identify the possible decisions for each method.

 

States of nature

 

1

2

3

Alternative A

50

55

60

Alternative B

30

50

80

Alternative C

70

80

70

Alternative D

-100

-10

140

Additional information

The problem related to Operations Management and it explains about developing information for alternatives given to a decision maker with maximax, maximin and Laplace criteria.

Word limit: 500

Reference no: EM13888798

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