Mystique Ltd, a company which makes ice-cream, is considering the launch of three new products, namely the 'Toffee-surprise', the 'Mint delight' and the 'Lemon tasty', which will be sold during the summer. Due to production restrictions, however, only one of these products can be chosen. The company's past experience in terms of selling similar types of product suggests that sales volumes will fluctuate with the weather. Mystique Ltd undertakes investment appraisal analysis and calculates the Net present values of each of the options for three possible types of weather. The company estimates that the probabilities of each of the different types of weather occurring are as follows: REQUIRED: a) Explain each decision criteria clearly and identify (showing all workings) which products would be chosen by Mystique Ltd using each of the following decision criteria: i) Expected net present value (5 marks) ii) The maximax criterion (3 marks) iii) The maximin criterion (3 marks) iv) The minimax regret approach (6 marks) [ Total marks = 17]