The operations manager for a local bus company wants to decide whether he should purchase a small, medium, or large new bus for his company. He estimates that the annual profits (in $000)will vary depending upon whether passenger demand is low, medium, or high, as follows:

If he uses the Laplace criterion, which size bus will he decide to purchase?
A)small
B)medium
C)large
D)either small or medium
E)either medium or large

Question

The operations manager for a local bus company wants to decide whether he should purchase a small, medium, or large new bus for his company. He estimates that the annual profits (in $000) will vary depending upon whether passenger demand is low, medium, or high, as follows:

If he uses the Laplace criterion, which size bus will he decide to purchase?

If he uses the Laplace criterion, which size bus will he decide to purchase?
A)small 
B)medium 
C)large 
D)either small or medium 
E)either medium or large

Quizplus · Accepted Answer

The Answer of The operations manager for a local bus company wants to decide whether he should purchase a small, medium, or large new bus for his company. He estimates that the annual profits (in $000)will vary depending upon whether passenger demand is low, medium, or high, as follows:

If he uses the Laplace criterion, which size bus will he decide to purchase?
A)small 
B)medium 
C)large 
D)either small or medium 
E)either medium or large

The Operations Manager for a Local Bus Company Wants to Decide