Assignment No. 11Answer 2 a, b, c ASSIGNMENT NO. 11 (Decision Analysis)2. A manager of a shopping mall is considering three alternativeexpansion projects for his mall: a small motel, a theater, or arestaurant. The construction costs are about the same, but themonthly profits can be affecte3d by future economieconditions in the area. The following table shows the monthlynet operating revenue that could result from each project.ECONOMYCONDITIONSProjectGoodPoorFairMotel$7,000SI8,000S15,000Restaurant5,00010,000Theater13,00020,00010,00011,000Determine the best investment using the following decisioncriteria:a) Maximaxb) Maximine) Minimax Regretd) Hurwicz (a- 0,4) Index of optimisme) Equal likelihood3. Microchip is planning a new facility and considering alocation in the following countries. Depending on theeconomic conditions for the next 3 years, the following costshave been estimnated (SUS million).ЕCONOMICCONDITIONSCountrySameDeclineImproveKorea21.719.315.2China19.018.517.6India19.217.114.9Philippines16,822.513.8Singapore21.225.012.5Which alternative would be selected if:a) The decision maker is an optimist (Minimin)?b) The decision maker is a pessimist (Minimaxy?e) The decision maker has an index of optimism of 0.4?d) The decision maker wants to use the Minimax regretcriterion?

In the below table, we could see the monthly net operating revenue for each project, here, there is…

Answered: Determine the best investment using the…

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...

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QUESTION 5 How many ticket vending machines will be needed if the hourly passenger demand is expected to be 8,750 and it takes each passenger 8 seconds to retrieve a ticket? Tickets are mandatory for all passengers. Round up your answer to the nearest integer (i.e. ticket vending machine).
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Determine the best investment using the following decision criteria: a) Maximax b) Maximin O Minimas Regret