Question 8 (Decision Rules) Mr. His considering which one of three alternative courses of action A, B and C to take. The profit or loss from each choice depends on which one of four circumstances, I, II, III or IV will apply. The possible profits and losses, in thousands of dollars, are given in the following payoff table. Losses are shown as negative figures: Action A Action B Action C 70 60 70 -10 20 Circumstance I Circumstance II Circumstance III Circumstance IV 80 100 115 Required: State which action would be selected using each of the decision rules: maximax, maximin and minimax regret criteria