Decision Tables
We may also develop a decision or payoff table to help Getz Products define its alternatives. For any alternative and a particular state of nature, there is a consequence or outcome, which is usually expressed as a monetary value. This is called a conditional value. Note that all of the alternatives in Example A2 are listed down the left side of the table, that states of nature (outcomes) are listed across the top, and that conditional values (payoffs) are in the body of the decision table.
Example A2 A Decision Table
Getz Products now wishes to organize the following information into a table. With a favorable market, a large facility ...
Get Operations Management: Sustainability and Supply Chain Management, Twelfth Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
