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A local hot dog vender that works the downtown area has determined the following payoffs for 3 possible strategies. Strategy A is to locate at

A local hot dog vender that works the downtown area has determined the following payoffs for 3 possible strategies. Strategy A is to locate at one central outside location. Strategy B is to push the cart around to cover the entire downtown area. Strategy C is to locate inside one of the small shopping centers. The following table shows the money he will make for each strategy given the different states of nature. States of Nature Strategy

Rainy Overcast Sunny
A 500 700 900
B -150 500 1200
C 920 400 100

The recommended strategy using the minimax regret criterion is

A A
B B
C C
D Cannot be determined from the available data

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