Decision making statistics problem

The owner of Cycle City Co. is deciding which products to stock. His distributor will give him a deal if he buys more of one kind of bike. The pay-off table below shows the expected weekly sales for a high-end bike {selling at $1,200] or a moderately priced bike (selling at $700i depending on the demand for the high-end bikes. Demand for High-End Bikes Mo de ra te Low Demand Demand High Demand Stock High-End 3600 7200 12000 Bikes Stock Moderately Priced Bikes The purpose of the shop owner is to maximize sales. Using the following decision criteria determine what bikes he should stock. Round your answers to the nearest integer. (a) Maximax Criteria: Decision: High Demand based on 12000 = max(7700,7200,12000i Decision: Stock High-End Bikes based on 22800 = max{22800,14700) Decision: Stock High-End Bikes based on 12000 : max(12000,7700) Decision: Moderate Demand based on 7200 = max(7200,4900) None of the above. [b] Maximin Criteria: Decision: Stock Moderately Priced Bikes based on 3600 = max{3600,2100) Decision: Low Demand based on 2100 = min(3600,4900,2100} Decision: Stock Moderately Priced Bikes based on 2100 = min{3600,2100) Decision: Stock High-End Bikes based on 3600 = maxl3600,2100] Decision: High Demand based on 2100 = max(3600,4900,2100] None of the above. (c) Equally likely {Laplace} criterion: Decision: Stock High-End Bikes based on 7500 = maxl7600,4900] Decision: Low demand based on 4700 = max(3767,4033,4700} Decision: Stock Moderately Priced Bikes based on 7050 : max(5650,6050,7050] Decision: Stock High-End Bikes based on 22800 : max{22800,14700) Decision: Stock High-End Bikes based on 11400 : max{11400,7350) Decision: Stock Moderately Priced Bikes based on 7500 = max(7600,4900) None of the above. (d) Hurwicz criterion {criterion of realism} with o: = 0.2. Decision: Low demand based on 5360 = maxi4420,5360,4080) Decision: Stock Moderately Priced Bikes based on 3220 = min(5280,3220) Decision: Stock Moderately Priced Bikes based on 5280 : max(5280,3220} Decision: Stock High-End Bikes based on 5280 = max(5280,3220) Decision: Stock High-End Bikes based on 10320 = max(10320,6580) None of the above. {a} Opportunity Loss {Minimax Regret) Criterion. Use the table Demand for High-End Bikes Mo de re re Low Demand Demand High Demand Stock High-End 3600 7200 12000 Bikes Stock Mo de re re! y Priced Bikes and fill in and use the following regret (opportunity loss} table: Demand for High End-Bikes Low Demand Moderate Demand High Demand Stock High-End Bikes Stock Mo de re re! y Priced Bikes State your decision below: Decision: Stock Moderately Priced Bikes based on 9900 = max(4100,9900) Decision: Stock High-End Bikes based on 4100 = mini4100,9900} Decision: Stock Moderately Priced Bikes based on 12200 = max(4100,12200} Decision: Stock Moderately Priced Bikes based on min = 0 Decision: Stock Moderately Priced Bikes based on 4100 = min(4100,9900) None of the above