What decision be made using minimax regret

Reference no: EM13118213

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lakewood fashions must decide how many lots of assorted ski wear to order for its 3 stores. Information on pricing, sales and inventory costs has led to the following payoff table,in thousands.

order size low demand medium high
1 lot 12 15 15
2 lots 9 25 35
3lots 6 35 69

a) what decision should be made by the optimist
b) what decision should be made by the conservative
c) what decision should be made using minimax regret

Reference no: EM13118213

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What decision be made using minimax regret : lakewood fashions must decide how many lots of assorted ski wear to order for its 3 stores. Information on pricing, sales and inventory costs has led to the following payoff table. what decision should be made using minimax regret.

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