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X php?attempt-1333098cmid 41570 ces OS Ticket system My Dispense Academic Calendar My courses() A Q Course dashboard Question 1 Not yet awered Morked out of 15 og question Mick Korra is the manager of MCZ Drilling Products, which produces a variety of specialty valves for oil field equipment Recent activity in the oil fields has caused demand to increase drastically, and a decision has been mode to open a now manufacturing facility. Three locations are being considered, and the size of the facility would not be the same in each location. Thus, overtime might be necessary at times. The following table gives the total monthly cost (in $1,000s) for each possible location under each demand possibility. The probabilities for the demand levels have been determined to be 30% for low demand, 45% for medium demand, and 25% for high demand. (CL03) Demand Location Low Medium High Ardmoro, OK 170 220 300 Sweetwater, TX 180 200 280 Lake Charles, LA 220 240 280 Choose . Choose Which location should be selected to minimize the expected cost of operation? which location would be selected based on the minimax regret criterion which location would be selected based on the pessimistic critorion? Which location would be selected based on the optimistic criterion What is the expected value of perfect information in this situation Choose. Choose Choose . E e 548 PM 36C Sunny FNG X php?attempt-1333098cmid 41570 ces OS Ticket system My Dispense Academic Calendar My courses() A Q Course dashboard Question 1 Not yet awered Morked out of 15 og question Mick Korra is the manager of MCZ Drilling Products, which produces a variety of specialty valves for oil field equipment Recent activity in the oil fields has caused demand to increase drastically, and a decision has been mode to open a now manufacturing facility. Three locations are being considered, and the size of the facility would not be the same in each location. Thus, overtime might be necessary at times. The following table gives the total monthly cost (in $1,000s) for each possible location under each demand possibility. The probabilities for the demand levels have been determined to be 30% for low demand, 45% for medium demand, and 25% for high demand. (CL03) Demand Location Low Medium High Ardmoro, OK 170 220 300 Sweetwater, TX 180 200 280 Lake Charles, LA 220 240 280 Choose . Choose Which location should be selected to minimize the expected cost of operation? which location would be selected based on the minimax regret criterion which location would be selected based on the pessimistic critorion? Which location would be selected based on the optimistic criterion What is the expected value of perfect information in this situation Choose. Choose Choose . E e 548 PM 36C Sunny FNG

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