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[See Solution] BMW is planning to launch a new sport utility vehicle (SUV). Initially it will have limited production for this model, with a total of only

Question: BMW is planning to launch a new sport utility vehicle (SUV). Initially it will have limited production for this model, with a total of only 20,000 units being produced for the year. King's BMW has been offered up to four of the SUV's for sale. King's estimates that the profit it earns from purchasing these SUV's will be based on the review it receives from Road and Track magazine. The review will give the SUV one of five ratings: poor, good, very good, excellent, or outstanding. The following table gives the profitability Jan King estimates the dealership will earn from ordering the SUV's based on the rating the vehicle receives.

How many SUV's should the firm order if

It uses the maximin criterion.
It uses the minimax regret criterion.
It uses the principle of insufficient reason criterion.

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[See Solution] BMW is planning to launch a new sport utility vehicle (SUV). Initially it will have limited production for this model, with a total of only

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