Lakewood Fashions Must Decide How Many Lots of Assorted Ski

question 32

Essay

Lakewood Fashions must decide how many lots of assorted ski wear to order for its three stores.Information on pricing,sales,and inventory costs has led to the following payoff table,in thousands.Show a regret table.​ ​
a.What decision should be made by the optimist?
b.What decision should be made by the conservative?
c.What decision should be made using minimax regret?

Understand the concept of opportunity cost in investing own funds.

Learn how to calculate expected profit rate.

Comprehend the process and necessity of forming loan syndicates for large corporate loans.

Analyze inventory investment changes over a period.