A developer is considering building rental apartments, office space, or educational buildings depending on the availability of credit from financial institutions. A preliminary analysis indicates that the expected rate of return for rental apartments should be 25%, regardless of the availability of credit .On the other hand, in the case of office space, they estimate that their rate of return will be 29% if they are able to obtain credit at low rates, 24% they are able to obtain credit at moderate rates, and 19% if they are able to obtain credit only at high rates. Finally, the rate of return of developing educational buildings are expected to be 26% if they are able to obtain credit at low or moderate rates, but to decrease to 22% if they are able to obtain credit only at high rates. Build your payoff matrix by arranging the alternatives (e.g. rental, office, and educational) on the left side of your table in rows , and credit availability (low, moderate, high credit rate) at the top of your table in columns

What course of action do the following decision criteria indicate?

-Laplace principle

-Maximin (or Minimax) rule

-Maximax (or Minimum) rule

-Hurwicz rule with an index of optimism = 0.50

-Minimax regret rule.

-The probability of occurrence for easy credit, moderate credit, and difficult credit are 80%, 15% and 5% respectively, Which alternative do you prefer? Explain why?

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