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Pizza King and Noble Greek are two competing restaurants. Each must determine simultaneously whether to undertake small, medium, or large advertising campaigns. Pizza King believes

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Pizza King and Noble Greek are two competing restaurants. Each must determine simultaneously whether to undertake small, medium, or large advertising campaigns. Pizza King believes that it is equally likely that Nobel Greek will undertake a small, a medium, or a large advertising campaign. Given the actions chosen by each restaurant, Pizza King's profits are as shown in the table. (1). Determine the actions set A and state set S. (2). For the best-best, best-worst, maximum likelihood and best expectation criteria, determine Pizza King's choice of advertising campaign. (3). Compute the regret las for each action a and state s. (4). Construct a decision tree for this problem based on the regret. (5). For the best-worst and best expectation criteria, use the backward induction to determine the Pizza King's choice based on regret. (6). Suppose the probability distribution (1/3,1/3,1/3) is inaccurate. Design a set D that contains the distributions that are near (1/3,1/3,1/3)

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