A local real estate investor in Orlando is considering three alternative investments: a motel, a restaurant, or a theater. Profits from the motel or restaurant will be affected by the availability of gasoline and the number of tourists; profits from the theater will be relatively stable under any conditions. The following payoff table shows the profit or loss that could result from each investment:

Investment

Gasoline Availability

Shortage

Stable Supply

Surplus

Motel

$

$$

$8,000$

$$15,000$

$$20,000$

Restaurant

$2,000$

$8,000$

$6,000$

Theater

$6,000$

$6,000$

$5,000$

Determine the best investment, using the following decision criteria.

Maximax

Maximin

Minimax regret

Hurwicz

$($

$\backslash$alpha

$=$

$\mathrm{.}4$

$)$

Equal likelihood