create a payoff and opportunity loss table for the problem, then Determine the optimal decision based on all of the decision methods: Maximax, Maximin, Expected monetary value, Expected opportunity loss and Return to risk ratio. create a report of your work for your manager. The report needs to include the following:
• A clear statement of the suggested decision and the reasoning behind your decision. Your reasoning must rely on the decision methods you used and an explanation of why you valued certain decision methods over others.
o Make sure to talk about multiple decision methods and not just focus on one. That is, don’t just say “EMV is the best”. Instead, explain why EMV is the best and include what the other decision methods indicate as well.
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