maths

Question

A Factory manufactures three types of Cars. The fixed and variable costs are given below
            Fixed Cost           Variable cost/unit
Car 1          400                   50
Car 2          300                   60
Car 3          500                   60
The demand is uncertain. If the demand is poor the factory expected to sell 200 units, if demand is moderate
then it will sell 500 units and if it is high the sales is expected 1000 units. If sales prices of each type of car is
12,000 Omr/unit then
a. Prepare the payoff table. 
b. Identify the decision taken under the pessimistic approach. 
c. Identify the decision taken under Hurwicz criterion with the optimism (0.7)

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