1. A bakery must decide how many apple-pies to prepare for the upcoming weekend. The bakery has the option to make 50, 100 or 150 apple-pies. Assume that the demand for the pies can be 50, 100, or 150. Each pie costs $5 to make and sells for $7. Unsold pies are donated to a nearby charity centre. Assume that there is no opportunity cost for the lost sales.

1. Which alternative should be chosen based on the maximax criterion?
2. Which alternative should be chosen based on the maximin criterion?
3. Which alternative should be chosen based on the Laplace criterion?
4. Which alternative should be chosed based on the minimax regret criterion?