3. Microchip is planning a new facility and considering a location in the following countries. Depending on the conomic conditions for the next 3 years, the following costs have been estimnated (SUS million). ECONOMIIC CONDITIONS Country Same Korca 193 China Decline Improve 21.7 15.2 19.0 18.5 17.6 India 19.2 17.1 14.9 225 Philippines 168 Singapore 21.2 13.8 25.0 12.5 Which alternative would be selected if: a) The decision maker is an optimist (Minimin)? b) The decision maker is a pessimist (Minimax)? ) The decision maker has an index of optimism of 0.4? 4) The decision maker wants to use the Minimax regret criterion?
3. Microchip is planning a new facility and considering a location in the following countries. Depending on the conomic conditions for the next 3 years, the following costs have been estimnated (SUS million). ECONOMIIC CONDITIONS Country Same Korca 193 China Decline Improve 21.7 15.2 19.0 18.5 17.6 India 19.2 17.1 14.9 225 Philippines 168 Singapore 21.2 13.8 25.0 12.5 Which alternative would be selected if: a) The decision maker is an optimist (Minimin)? b) The decision maker is a pessimist (Minimax)? ) The decision maker has an index of optimism of 0.4? 4) The decision maker wants to use the Minimax regret criterion?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
Related questions
Question
Assignment No. 11(Decision Analysis)
Answer 3 c, d
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 6 steps
Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.