PLEASE SHOW ALL WORKING DO NOT USE EXEL !!!!

a. The following matrix gives the payoff of different strategies (alternatives) S1, S2 and S3 against conditions (events) N1, N2, N3 and N4: Si S2 S3 N1 $4000 20000 20000 N2 $ (-100) 5000 15000 N3 $ 6000 400 -2000 N4 18000 0 1000 Indicate the decision using following approaches: (i) Maximax, (ii) Maximin, (iii) Minimax regret, and (iv) Hurwicz criterion. The degree of optimism being 0.7. (6 Marks)