The new owner of a beauty shop is trying to decide whether to hire one, two, or three beauticians. She estimates that profits next year (in thousands of dollars) will vary with demand for her services, and she has estimated demand in three categories, low, medium, and high. $$\begin{array} { | l | l | l | l | }
\hline { \begin{array} { l }
\text { NUMBER } \
\text { OF } \
\text { BEAUTICIANS }
\end{array} } & { \text { DEMAND } } \
\hline & \text { LOW } & \text { MEDIUM } & \text { HIGH } \
\hline \text { One } & 50 & 75 & 100 \
\hline \text { Two } & 0 & 100 & 100 \
\hline \text { Three } & - 100 & 70 & 300 \
\hline
\end{array}$$ If she uses the minimax regret criterion, how many beauticians will she decide to hire?
A) one
B) two
C) three
D) either one or two
E) either two or three

Question

The new owner of a beauty shop is trying to decide whether to hire one, two, or three beauticians. She estimates that profits next year (in thousands of dollars) will vary with demand for her services, and she has estimated demand in three categories, low, medium, and high. $$\begin{array} { | l | l | l | l | } 
\hline { \begin{array} { l } 
\text { NUMBER } \
\text { OF } \
\text { BEAUTICIANS }
\end{array} } &   { \text { DEMAND } } \
\hline & \text { LOW } & \text { MEDIUM } & \text { HIGH } \
\hline \text { One } & 50 & 75 & 100 \
\hline \text { Two } & 0 & 100 & 100 \
\hline \text { Three } & - 100 & 70 & 300 \
\hline
\end{array}$$ If she uses the minimax regret criterion, how many beauticians will she decide to hire?
A) one
B) two
C) three
D) either one or two
E) either two or three

Quizplus · Accepted Answer

The Answer of The new owner of a beauty shop is trying to decide whether to hire one, two, or three beauticians. She estimates that profits next year (in thousands of dollars) will vary with demand for her services, and she has estimated demand in three categories, low, medium, and high. $$\begin{array} { | l | l | l | l | } 
\hline { \begin{array} { l } 
\text { NUMBER } \
\text { OF } \
\text { BEAUTICIANS }
\end{array} } &   { \text { DEMAND } } \
\hline & \text { LOW } & \text { MEDIUM } & \text { HIGH } \
\hline \text { One } & 50 & 75 & 100 \
\hline \text { Two } & 0 & 100 & 100 \
\hline \text { Three } & - 100 & 70 & 300 \
\hline
\end{array}$$ If she uses the minimax regret criterion, how many beauticians will she decide to hire?
A) one
B) two
C) three
D) either one or two
E) either two or three

The New Owner of a Beauty Shop Is Trying to Decide