Microchip is planning a new facility and considering a location in the following countries. Depending on the economic conditions for the next 3 years, the following costs have been estimated ($US million). ECONOMIIC CONDITIONS Country Decline Same Improve Korea 21.7 19.3 15.2 China 19.0 18.5 17.6 India 19.2 17.1 14.9 Philippines 22.5 16.8 13.8 Singapore 25.0 21.2 12.5 Which alternative would be selected if: The decision maker is an optimist (Minimin)? The decision maker is a pessimist (Minimax)? The decision maker has an index of optimism of 0.4? The decision maker wants to use the Minimax regret criterion?
- Microchip is planning a new facility and considering a location in the following countries. Depending on the economic conditions for the next 3 years, the following costs have been estimated ($US million).
ECONOMIIC CONDITIONS
Country Decline Same Improve
Korea 21.7 19.3 15.2
China 19.0 18.5 17.6
India 19.2 17.1 14.9
Philippines 22.5 16.8 13.8
Singapore 25.0 21.2 12.5
Which alternative would be selected if:
- The decision maker is an optimist (Minimin)?
- The decision maker is a pessimist (Minimax)?
- The decision maker has an index of optimism of 0.4?
- The decision maker wants to use the Minimax regret criterion?
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