The new owner of a beauty shop is trying to decide whether to hire one, two, or three beauticians. She estimates that profits next year (in thousands of dollars) will vary with demand for her services, and she has estimated demand in three categories, low, medium, and high.
If she uses the minimax regret criterion, how many beauticians will she decide to hire?
Definitions:
Egalitarianism
A belief in human equality, particularly with respect to social, political, and economic rights and privileges.
Democratic Elections
A process of choosing representatives or leaders through a vote, where each citizen has a say.
Constitution
The fundamental principles or established precedents according to which a state or other organization is acknowledged to be governed.
Presidential Vote
The electoral process in which citizens or electors cast ballots to elect the president and vice-president of a country.
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