PART D Management is also analyzing overage and underage costs. Overage costs are incurred when quantity produced exceeds demand, leading to wastage. Underage costs are stockout (or shortage) costs: the cost of lost contribution to profit when demand exceeds supply. Suppose the analysis resulted in the following payoff table for the bakery. Payoffs are costs in dollars. Low Demand Medium Demand High Demand Light 350 740 1,050 Production Moderate 830 320 1,100 Production Heavy 1,120 790 320 Production Determine the best decision alternative and its associated payoff using each of the following criteria: a. the optimistic criterion Best Payoff = $ Decision: Select an answer v b. the pessimistic/conservative criterion Best Payoff = $ Decision: Select an answer C. the equally likely criterionDetermine the best decision alternative and its associated payoff using each of the following criteria: a. the optimistic criterion Best Payoff = $ Decision: Select an answer b. the pessimistic/conservative criterion Best Payoff = $ Decision: Select an answer C. the equally likely criterion Best Average Payoff = $ Decision: Select an answer d. the realism criterion with o = 0.35 Best Weighted Payoff = $ Decision: Select an answer e. the minimax regret criterion Minimax Regret = $ Decision: Select an answer va. the optimistic criterion Best Payoff Decision Select an answer Light Moderate Heavy Light or Moderate Light or Heavy Moderate or Heavy Indifferent Light and Moderate b. the pess Light and Heavy iv Moderate and Heavy Best Payoff = Decision: Select an answer V