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1. The following solved problems refer to this payoff table: New No Bridge New Built Bridge Alternative capacity A 1 14 for new store B 2 10 6 4 where A - small, B - medium, and C - large. Assume the payoffs represent profits. Determine the alternative that would be chosen under each of these decision criteria: a. Maximin b, Maximax. c. Laplace. 2. Using the information in the payoff table, develop a table of regrets, and then a. Determine the alternative that would be chosen under minimax regret. b. Determine the expected value of perfect information using the regret table, assuming that the probability of a new bridge being built is.60. 3. Using the probabilities of 60 for a new bridge and 40 for no new bridge. a Compute the expected value of each alternative in the payoff table, and identify the alternative that would be selected under the expected-value approach. b. Construct a decision tree for the problem showing expected values. Compute the EVPI using the information from the previous problem. 4