Mr. Habib has been thinking about starting his own independent gasoline station. Mr. Habib's problem is to decide how large his station should be. The annual returns will depend on both the size of his station and a number of marketing factors related to the oil industry and demand for gasoline. After a careful analysis, Mr. Habib developed the following table: Small Medium Large Very Large Size of First Station Good Market Fair Market Poor Market $50,000.00 $20,000.00 -$10,000.00 $80,000.00 $30,000.00 -$20,000.00 $100,000.00 $30,000.00 -$40,000.00 $300,000.00 $25,000.00 -$160,000.00 For example, if Mr. Habib constructs a small station and the market is good, he will realize a profit of $50,000. 1. What is the maximax decision? (3 points) 2. What is the maximin decision? (3 points) 3. What is the equally likely decision? (3 points) 4. What is the criterion of realism decision? Use an a value of 0.8. (3 points) 5. Develop an opportunity loss table. (3 points) 6. What is the minimax regret decision? (3 points)