Todayâ€™s Electronics specializes in manufacturing modern electronic components. It also builds the equipment that produces the components....

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Todayâ€™s Electronics specializes in manufacturing modernelectronic components. It also builds the equipment that producesthe components. Phyllis Weinberger, who is responsible for advisingthe president of Todayâ€™s Electronics on electronic manufacturingequipment, has developed the following table concerning a proposedfacility:
a. Develop an opportunity loss table.
b. What is the minimax regret decision?
Use .7 alpha for Hurwicz
Profit ($)
Strong Market
Fair Market
Poor Market
Large Facility
550,000
110,000
-310,000
Medium-sized Facility
300,000
129,000
-100,000
Small Facility
200,000
100,000
-32,000
No Facility
0
0
0

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aOpportunity Loss TableOpportunity LossStrong MarketFair MarketPoor MarketMaximumLarge Facility019000310000310000Medium Size Facility2500000100000250000Small See Answer

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	Profit ($)
	Strong Market	Fair Market	Poor Market
Large Facility	550,000	110,000	-310,000
Medium-sized Facility	300,000	129,000	-100,000
Small Facility	200,000	100,000	-32,000
No Facility	0	0	0