1. Mr. Eyob who works as an assistant buyer of a sports wear department in a New York store must decide on clothes orders for the winter season. Two new styles of coats were introduced at a recent show. The styles are quite different, and the assistant buyer must decide whether to fill the entire order with one of the styles or to split the order between the two. The profits for various state of nature have been estimated by the head buyer. The following payoff table is given Alternatives Style A Style B Split Style A 80 30 45 Alternative Style B 20 90 55 Split 60 70 95 Determine which alternative would be selected for each of the decision criteria A. Maxi Mini B. Maxi Max C. Mini Max regret D. Laplace criteria (principle of insufficient reason).
