Review the case study and create a comprehensive case analysis report in a 4-page Word document.
Case Study Questions:
What do you recommend? (20 points)
What would Bob be willing to pay for a forecast that would accurately determine the outcome of demand in the future? (30 points)
Suppose Bob does not know the chance of the outcomes of the market (being poor, average, good, or excellent),
a) what do you recommend with a decision-making methodology of Maximin? (10 points)
b) what do you recommend with a decision-making methodology of Minimax Regret? (30 points)
c) Compare what you find from (a) and (b), which decision-making method do you believe is more risk-averse? (10 points)
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