What is the best decision alternativeunder Maximax criterion? (Providecomplete decision table solution)DIHL Co. is a Danao-based logisticscompany owned by Engr. Donald H.Lalican. Anticipating the growingdemand for delivery services, hedeveloped a strategic plan for theyear 2022. The options are to hireadditional delivery crews in theirMandaue facility, construct a newfacility in Talisay City, orsubcontract Ohlala Move, a small-time company. A study conductedby the marketing departmentforecasted the following payoffvalues, which are summarized in thetable below. The values areexpressed as gains and alpha = 0.6.States of NatureDecision AlternativesFailureLowModerateHighHire additional Drivers in Mandaue-450,000-250,000250,000500,000Construct a facility in Talisay-800,000-400,000300,000700,000Subcontracting Ohlala Move-100,000-10,000150,000300,000Hire Additional Drivers in MandaueConstruct a Facility in TalisayO Subcontracting Ohlala MoveBoth Hiring Additional Drivers inMandaue and Subcontracting OhlalaMoveO Other:

Answered: What is the best decision alternative…

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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