OPERATIONS MGMT .WMYOMLAB><
17th Edition
ISBN: 9781323432846
Author: HEIZER
Publisher: PEARSON C
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Chapter A, Problem 6P
Summary Introduction
To determine: The approach to be taken for decision making process.
Introduction: Decision making Criteria
There are three decision making criteria under uncertainty
- 1. Maximax: Maximax is criteria that evaluates alternative that maximize the maximum outcome.
- 2. Maximin: It is a criteria that evaluate alternative that maximize minimum outcome.
- 3. Equally likely: It is a criteria where equal probabilities is available in each of the state of nature.
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Chapter A Solutions
OPERATIONS MGMT .WMYOMLAB><
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