The owner of the Humber North Fashion Company must decide among mass producing 100,000 turtle neck sweaters, designing and producing 10,000 new gala dresses, or leasing their production facilities 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 Signicant increase Increase Turtle 2100 700 2500 Necks Gala Dresses 1820 1040 160 Leasing (a) Construct Opportunity Loss (Regret) Table Material Costs Stabie Moderate increase Significant increase Turtle Necks (a) Construct Opportunity Loss (Regret) Table Material Costs Stable Moderate Increase Significant Increase Turtle Necks Gala Decision Dresses Leasing (b) Determine the best decision using the Opportunity Loss decision criterion. O Decision: Gala Dresses based on 1190 = min(3530, 1190, 1290) O Decision: Turtle Necks based on 3530 = max(3530, 1 190, 1290) O Decision: Turtle Necks based on 3870 = min(1470,3870,1430) O Decision: Leasing based on min = 140