1. The owner of the Humber Lakeshore Construction Company must decide among building a condo, constructing a shopping centre, or leasing all the company's equipment to another company. The profit that will result from each alternative will be determined by whether material costs remain stable, increase moderately, or increase significantly. In the payoff table below the estimated profits/losses are given in$ thousands.

The owner of the Humber Lakeshore Construction Company must decide among building a condo, constructing a shopping centre, or leasing all the company's equipment to another company. The profit that will result from each alternative will be determined by whether material costs remain stable, increase moderately, or increase significantly. In the payoff table below the estimated profits/losses are given in $ thousands. Material Costs Moderate Significant Increase Increase Cen tre Determine the best decision using the Maximax decision criterion. 0 Decision: Stable based on 2220 = max(2220,1020,1030) 0 Decision: Condo based on 2220 = max(2220,1820,1030) (2 Decision: Leasing based on 2790 = max(460,2660,2790) C\". Decision: Condo based on 2380 = max(2380,1820,1030) The owner of the Long Branch Computer Hardware Company must decide among building 100 servers, building 5000 hard drives, or leasing all their equipment to another company. The profit that will result from each alternative will be determined by whether material costs remain stable, increase moderately, or increase significantly. In the payoff table below the estimated profits/losses are given in $thousands. Material Costs Moderate Significant Stable Increase Increase Servers 2150 600 -2350 Hard Decision 1830 1000 -160 Drives Leasing 900 1100 1050 Determine the best decision using the Maximin decision criterion. O Decision: Stable based on 900 = max(900,600,-2350) Decision: Leasing based on 900 = max(-2350,-160,900) Decision: Servers based on -2350 = min(-2350,-160,900) O Decision: Hard Drives based on 160 = min(600,160,900)The owner of the Party City Toronto Company must decide among building a mega centre store, building 5 new stores, or leasing 10 of their locations to another company. The profit that will result from each alternative will be determined by whether material costs remain stable, increase moderately, or increase significantly. In the payoff table below the estimated profits/losses are given in $thousands. Material Costs Moderate Significant Increase Increase Determine the best decision using the Equal likelihood (Laplace) decision criterion. Round to the nearest integer. CT Decision: Mega Centre based on 2630 = max(2630,1800,600) (7 Decision: Mega Centre based on 877 = max(877,600,200) CT Decision: Stable based on 1537 = max(1537,740,600) 2\