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Decision analysis: Maximax and Maximin

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The owner of the Burger Doodle Resturant is considering two ways to expand operation: open a drive-up window or serve breakfast. Th increase in profits reulting from theise proposed expansions depend on weather a competitor opens franchise down the street. The possible profits form each expansioin in operations, give both further competitive sistuations, are shown in the following pay off table

Decision Open Not Open

Drive-up window $-6,000 $20,000
Breakfast $4,000 $8,000

Select the best decision, using the following decsion criteria

a. Maximax
b. Maximin

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The expert examines the maximax and maximin for decision analysis.

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Decision Open Not Open Maximum
Drive-up ...

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