Question 1. Click Boutique and DigiCatalog are two competing e-commerce companies in the new personalized styling industry. Click Boutique is considering whether to place the initial advertisements mainly on Facebook, YouTube, or Instagram to reach potential customers. The head of marketing department believes that it is very likely that DigiCatalog will also use these social media platforms for marketing. Given the actions chosen by DigiCatalog, the profits of Click Boutique (in thousands) are given in the following table. Click Boutique chooses DigiCatalog chooses Facebook YouTube Facebook $6000 $5000 YouTube $5000 $6000 Instagram $3000 $2000 Instagram $9000 $6000 $1000 a) For the maximin, maximax, and minimax regret criteria, determine the best advertising platform for Click Boutique. b) The marketing department of Click Boutique estimates the probabilities that DigiCatalog will use Facebook, YouTube or Instagram ads as 0.2, 0.3, and 0.5, respectively. For the modal outcome, expected value, and expected regret criteria, determine where to place advertisement for Click Boutique.