Bello is a restaurant in the centre of a busy city. It has always been popular with both local residents and tourists, especially in the warm summer months. Due to the coronavirus pandemic, Bello has faced a number of uncertainties as a result of both local restrictions, travel restrictions limiting tourists, and behavioural changes among the local population. Bello has faced the decision of whether to lay-off staff, how many food supplies to purchase to make its meals, and whether to invest money into the restaurant. Bello has identified three alternative decisions (Decision A, Decision B, Decision C) to represent varying levels of staff lay-offs, supply purchases and investment. However, the uncertainties that it faces has limited Bello's ability to assign meaningful estimates of probabilities to possible outcomes. As a result, Bello has prepared the following payoff table that identifies the daily profits which could be earned from restaurant sales: Required 1. EXPLAIN the difference between risk and uncertainty. 2. EXPLAIN which decision Bello will choose (A, B or C) if Bello adopts a maximin approach. 3. EXPLAIN which decision Bello will choose (A, B or C) if Bello adopts a maximax approach. 4. EXPLAIN which decision Bello will choose (A, B or C) if Bello adopts the regret criterion approach