1. The marketing research department of company has recommended to the Decision-making department to launch three varieties of Chips. The Department manager has to decide one of the types of Chips to be launched under the following estimated payoffs for various levels of sales: Estimated levels of sales(in thousands) a=8 Type of Chips b=7 Potato chips 50 + a 10 + b 10 c=2 d=9 Banana chips 20 +c 5 +b+c 20 + b * a | Jack fruit chips 55 10 + 2a 1+d What will be the manager's decision under the following decision criteria's? а. Minimax Regret criterion b. Hurwicz Alpha criterion (a=0.2)

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Statements and Logic

Logic is the analysis of general patterns of thoughts without regard to any specific sense of context.