An executive of the Rifkan Rifraf Corporation believes that the decision criterion for deciding how many units to order in Problem | should be based on the opportunity loss or regrets criterion. ph65 Required:

a Construct an outcome matrix (table) for the problem faced by the Rifkan Rifraf Corporation using the opportunity loss or regrets as the decision criterion.

b Determine the optimal strategy based on expected value using the opportunity loss or regrets as the decision criterion.

c How does the optimal strategy when the opportunity loss or regrets criterion is used differ from the optimal strategy when the profit criterion is used?