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The
paper has to have a title, introduction and reference page. The paper
should be no more than 1000 words and no less than 750 words.
The title and reference pages do not count toward the word count.
The paper needs to have three (3) academic references which are cited in the paper.
In an APA formatted Word document complete the following:
Discuss the need and utility of statistical quality control in business decision-making. What are its limitations?
The following is a payoff (in $000) table for three strategies and two states of nature for our company:
Select
a strategy using each of the following decision criteria: (a) Maximax,
(b) Minimax regret, (c) Maximin, (d) Minimum risk, assuming equiprobable
states.
Strategy
States of Nature
N1
N2
S1
40
60
S2
10
-20
S3
-40
150
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