Choose the best decision maximax and maximin principle

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Reference no: EM1320004

Question: The owner of the Burger Doodle Restaurant is considering two ways to expand operations: open a drive-up window or serve breakfast. The increase in profits resulting from these proposed expansions depends on whether a competitor opens a franchise down the street. The possible profits from each expansion in operations, given both future competitive situations, are shown in the following payoff table:

Competitor Decision	Open	Not Open
Drive-up window	$ -6,000	$ 20,000
Breakfast	4,000	8,000

Choose the best decision, using the following decision criteria.

[A] Maximax
[B] Maximin

Reference no: EM1320004

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