Discussion Post: Business Analysis
Independent gasoline stations have been having a difficult time, nevertheless, Anna Li has been thinking about starting her own independent gasoline station. Anna's problem is to decide how large her station should be. The annual returns will depend on both the size of her station and a number of marketing factors related to the oil industry and demand for gasoline.
After a careful analysis, Anna developed the following table of the profit (or loss) realized for each size station based on market conditions (This table is attached as an attachment)
Using Excel, design a decision table for this decision.
o What is the maximin decision?
o What is the maximax decision?
o What is the Laplace decision?
o What is the Hurwicz Criterion decision?
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.
Attachment:- Table.rar