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Hurwicz criterion of realism

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A manager is deciding wetheror not to build a small facility .demand is uncertain and can be either at a high or low level. If the manager chooses a small facility and demand is high,the payoff is R300 on the other hand, if the manager chooses a large facility and demand is low ,the payoff is R200 but if demand is high the payoff is R800. What would be the best decision based on the laplace criterion. What would also be the best decision based on Hurwicz's criterion of realism using a =0.6

Reference no: EM131906994

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