1. The Lake Council is planning to build a community centre. The council narrowed the building alternatives to three sizes: Small, Medium and Large. A regional planning consultant provided demand estimates under three scenarios: Worst Case, Base Case and Best Case. The projections of net cash flow in thousand RM) are in TABLE 1. TABLE 1: Projection of Net Cash Flow Demand Scenario Centre Worst Base Best Size Case Case Case Small 400 500 660 Medium -250 650 800 Large 400 580 990 a) Determine the best decision for the council using the following decision criteria: i. Maximax (2 marks) ii. Maximin (2marks) iii. Minimax regret (3 marks) iv. Hurwicz (a=0.40) (2 marks) Equal likelihood (2 marks) V