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Lakewood Fashion must decide how many lots of assorted ski wear to order for its three stores Information on prices sales and inventory costs has led to the

Lakewood Fashion must decide how many lots of assorted ski wear to order for its three stores. Information on prices, sales, and inventory costs has led to the following payoff table, in thousands:_________Demand_________ Order Size____ Low_____ Medium__ High1 Lot 12 15 152 Lots 9 25 353 Lots 6 35 60REQUIRED:1. What decision should be made by an optimist?2. What decision should be made by a conservative?3. What decision should be made by using minimax regret?

Apr 23 2020 View more View Less

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