Learning Goal: I’m working on a business multi-part question and need an explana

Learning Goal: I’m working on a business multi-part question and need an explanation and answer to help me learn.2/3 page paper: In an APA 7th edition format 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:StrategyStates of NatureN1N2S14060S210-20S3-40150Select a strategy using each of the following decision criteria: (a) Maximax, (b) Minimax regret, (c) Maximin, (d) Minimum risk, assuming equiprobable states.
Requirements: 2/3 page paper   |   .doc file