3. A local real estate investor in Orlando is considering three alternativeinvestments: a motel, a restaurant, or a theater. Profits from the motel orrestaurant will be affected by the availability of gasoline and the number of tourists,profits from the theater will be relatively stable under any conditions. The followingpayoff table shows the profit or loss that could result from each investment:Gasoline AvailabilityInvestmentShortageStable SupplySurplusMotelRestaurantTheaterS 8,0002,0006,000S15,0008,0006,000$20,0006,0005,000Determine the best investment, using the following decision criteria.a. Maximax b. Maximin c. Minimax regret d. Hurwicz(a = .4) e. Equal likelihood%3D4.A television network is attempting to decide during the summer which ofthe following three football games to televise on the Saturday followingThanksgivingDay: Alabama yersus Auburn, Georgia versUs Georgia Techor Army versus

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3. A local real estate investor in Orlando is considering three alternative investments: a motel, a restaurant, or a theater. Profits from the motel or restaurant will be affected by the availability of gasoline and the number of tourists; profits from the theater will be relatively stable under any conditions. The following payoff table shows the profit or loss that could result from each investment: Gasoline Availability Investment Shortage Stable Supply Surplus Motel S-8,000 2,000 S15.000 $20,000 Restaurant 8,000 6,000 Theater 6,000 6,000 5,000 Determine the best investment, using the following decision criteria. a. Maximax b. Maximin c. Minimax regret d. Hurwicz(a = .4) e. Equal likelihood

3. A local real estate investor in Orlando is considering three alternative investments: a motel, a restaurant, or a theater. Profits from the motel or restaurant will be affected by the availability of gasoline and the number of tourists; profits from the theater will be relatively stable under any conditions. The following payoff table shows the profit or loss that could result from each investment: Gasoline Availability Investment Shortage Stable Supply Surplus Motel S-8,000 2,000 S15.000 $20,000 Restaurant 8,000 6,000 Theater 6,000 6,000 5,000 Determine the best investment, using the following decision criteria. a. Maximax b. Maximin c. Minimax regret d. Hurwicz(a = .4) e. Equal likelihood

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 28EQ

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