quarterly profits (in thousands of dollars). (a) What is the decision to be made, what is the chance event, and what is the consequence for this problem? The decision to be made is . The chance event is . The consequence is How many decision alternatives are there? How many outcomes are there for the chance event? (b) If nothing is known about the probabilities of the chance outcomes, what is the recommended decision using the optimistic, conservative, and minimax regret approaches? The recommended decision using the optimistic approach is the service. The recommended decision using the conservative approach is the service. The recommended decision using the minimax regret approach is the service. thousands EV(discount) $ thousands The optimal decision is the service. EV(full)EV(discount)$$ thousands The optimal decision is the thousands service. If the probability of strong demand falls below , the service is the best choice. If the probability of strong demand is greater than , the service is the best choice