An investor is going to purchase one of three types of real estate. The investor must decide among an apartment building, an office building, and a warehouse. The future states of nature that will determine how much profit the investor will make are good economic conditions and poor economic conditions. The profits (in $ thousands) that will result from each decision in the event of each state of nature are shown in the following table: States of Nature Poor Economic Conditions Decision (Purchase) Good Economic Conditions Apartment building Office building Warehouse 550 1030 385 a. Construct Opportunity Loss (Regret) Table. 340 -370 105 States of Nature Poor Economic Conditions Decision (Purchase) Good Economic Conditions Apartment building Office building Warehouse b. Determine the best decision using the Opportunity Loss decision criterion. O Decision: Apartment building based on 480 = min(480,710,645) Decision: Warehouse based on min = 235 (except zeros) O Decision: Office building based 710 = = max(480,710,645) Decision: Warehouse based on 880 - max(480 710 880)