Decision payoff table with future demand probabilities

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Reference no: EM131974550

Given is a decision payoff table with future demand probabilities. Answer all questions below. Future Demand Alternatives Low Moderate High Small Facility 17 12 13 Medium Facility 12 22 21 Large Facility -5 7 15 Probabilities 0.35 0.3 0.35 a) The EMV (Expected Monetary Value) for small facility is = (in 1 decimal place) b) The EMV (Expected Monetary Value) for medium facility is = (in 1 decimal place) c) The EOL (Expected Opportunity Loss/Regrets) for medium facility is = (in 2 decimal places) d) The EOL (Expected Opportunity Loss/Regrets) for large facility is = 14.3] (in 2 decimal places) e) The best decision by using EMV is to select the facility f) The best decision by using EOL is to select the facility

Reference no: EM131974550

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