A plant manager considers the operational cost per hour of five machine alternatives.The cost per hour is sensitive to three potential weather conditions: cold, mild, and warm.The following table represents the operations cost per hour for each alternative-state of nature combination: Using the equally likely criterion, which alternative is best?
A)Machine 1
B)Machine 2
C)Machine 3
D)Machine 4

Question

A plant manager considers the operational cost per hour of five machine alternatives.The cost per hour is sensitive to three potential weather conditions: cold, mild, and warm.The following table represents the operations cost per hour for each alternative-state of nature combination:  Using the equally likely criterion, which alternative is best?
A)Machine 1 
B)Machine 2 
C)Machine 3 
D)Machine 4

Quizplus · Accepted Answer

The Answer of A plant manager considers the operational cost per hour of five machine alternatives.The cost per hour is sensitive to three potential weather conditions: cold, mild, and warm.The following table represents the operations cost per hour for each alternative-state of nature combination:  Using the equally likely criterion, which alternative is best?
A)Machine 1 
B)Machine 2 
C)Machine 3 
D)Machine 4

A Plant Manager Considers the Operational Cost Per Hour of Five