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November 23, 2016 at 5:55 pm
I am working out the minimax regret on question 3 and cannot workout how I am wrong. I have worked out the regrets and can only see the most viable option as being 300.
The regrets i am getting are:
100 units – 4100 (5100 – 1000)
300 units – 2100 (5100 – 3000)
500 units – 3000 (0 – (-3000))
Am i doing something incorrect?
Thanks and Regards
October 11, 2017 at 12:02 pm
From every units you have to choose the minimum profits for example
From 100 unit minimum profit is 1000
300 unit minimum is (1000)
500 units minimum is (3000)
so 500 units is the maximum
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