The Operations Manager for a Local Bus Company Wants to Decide

question 56

Multiple Choice

The operations manager for a local bus company wants to decide whether he should purchase a small, medium, or large new bus for his company. He estimates that the annual profits (in $000) will vary depending upon whether passenger demand is low, medium, or high, as follows:
If he uses the minimax regret criterion, which size bus will he decide to purchase?

• A) small
• B) medium
• C) large
• D) either small or medium
• E) either medium or large

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Definitions:

Structuralism

An approach in psychology that analyzes the basic elements of thoughts and sensations to understand the complex structure of the mind.

Functionalism

A theoretical perspective in sociology and psychology that explains social institutions and structures by the functions they perform in society or an organism.

Clinical Psychology

A branch of psychology focused on diagnosing and treating mental, emotional, and behavioral disorders through various therapies and interventions.

Psychological Disorders

Patterns of behavioral, cognitive, emotional, or physical symptoms that lead to distress, disability, or impairment in daily functioning.