Question 1 10 poi Even though independent gasoline stations have been having a difficult time, Susan Solomon has been thinking of starting her own independent gasoline station. Susan's problem is to decide how large her gasoline station should be. The annual returns will depend on both the size of her station and a number of marketing factors related to the oil industry and demand for gasoline. After a careful analysis, Susan developed the following table: SIZE OF FIRST GOOD POOR STATION MARKET ($) MARKET ($) Small 2300 -10,000 Medium 75,000 -25,000 2300 Large 120,000 Very large 125,000 -130,000 For example, if Susan constructs a medium station and the market is good, she will realize a profit of $75,000 (a) What is the maximax decision? (b) What is the maximin decision? (c) What is the equally likely decision? (d) What is the criterion of realism decision? Use an alpha value of 0.7. (e) What is the minimax regret decision? (Develop an opportunity loss table for this.)