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Lakewood Fashions must decide how many lots of assorted ski wear to order for its three stores. Information on pricing, sales, and inventory costs has

Lakewood Fashions must decide how many lots of assorted ski wear to order for its three stores. Information on pricing, sales, and inventory costs has led to the following payoff table, in thousands.

Demand

Order Size

Low

Medium

High

1 lot

12

15

15

2 lots

9

25

35

3 lots

6

35

60


a.

What decision should be made by the optimist?

b.

What decision should be made by the conservative?

c.

What decision should be made using minimax regret?

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