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In a minimax decision strategy, the regret for each scenario must be computed. A restaurant is considering the purchase of a small, medium or high-capacity

In a minimax decision strategy, the regret for each scenario must be computed. A restaurant is considering the purchase of a small, medium or high-capacity smoker oven. The payoff depends on whether demand for smoked food is high or low. The estimated payoffs for each scenario are shown below. Given the payoff table below, what is the regret for the scenario with a medium capacity oven and low demand? Payoffs (SK) Smoker Oven Chance Outcomes Capacity Low Demand High Demand Low 420 362 Medium 350 514 High 160 746

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