A family business is considering making an investment in its manufacturing operation.Three decisions are under consideration: (1) a large investment; (2) a medium investment;and (3) a small investment.The business believes that there are three possible future outcomes for its product: (1) increasing demand; (2) stable demand;and (3) decreasing demand.The following payoff table describes the decision situation.
The best decision for the business using the Hurwicz criterion with a coefficient of optimism equal to 0.80 would be to
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Personality
Refers to the unique and consistent set of behaviors, feelings, and thoughts that characterize an individual.
Values
core beliefs that influence how individuals behave and make decisions.
Character
The set of mental and moral qualities distinctive to an individual.
Unique Nature
The distinct characteristics or qualities that make someone or something different from anything or anyone else.
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