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    Decision Analysis and Stable Supply Surplus

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    Consider the following Pay-off Table:

    Decision Alternatives.........Shortage........Stable Supply........Surplus
    Motel...................................$-8000..............$15,000............$20,000
    Food Restaurant.................$2,000................$8,000.............$6,000
    Movie Theater.....................$6,000................$6,000.............$5,000

    What are the decisions for Maximax, Maximin, Minimax Regret, Hurwicz (alpha=0.4) and Equal Likehood Criterion?

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    https://brainmass.com/math/complex-analysis/decision-analysis-stable-supply-surplus-277755

    Solution Summary

    The solution is comprised of detailed step-by-step calculations involving the various aspects of Decision Analysis and provides students with a clear perspective of Maximax Criterion, Maximin Criterion, Minimax Regret Criterion, Hurwicz Criterion and Equal Likelihood Criterion.

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