Saint Teresa's Hospital is looking to implement a new labor scheduling system. Ray Bones has been charged with selecting one of 4 alternative approaches to the project. Complicating the analysis is the fact that each alternative will yield different results depending on which of the 4 economic scenarios occurs.

Ray has studied each of the alternatives and scenarios and believes the table below accurately represents the potential outcomes. Each row represents a different approach to the project. Each column represents the outcomes associated with a specific economic scenario.

Specify the outcome suggested for each of the following criteria:

Maximin = Maximax = Minimax Regret =

Note: You can earn partial credit on this problem.