Question: A local real estate investor in Orlando is considering three alternative investments: a motel, a restaurant, or a theater. Profits from the motel or restaurant will be affected by the availability of gasoline and the number of turists; profits from the theater will be relatively stable under any conditions. The following payoff table shows the profit or loss that could result from each investment.

.......................................Gasoline Availability
Investment ........Shortage ......Stable Supply ......Surplus
Motel .................-8000 .............15000 ...............20000
Restaurant ...........2000 .............8000 .................6000
Theater ................6000 .............6000 .................5000

Determine the best investment using the following decision criteria.
a. Maximax
b. Maximin
c. Minimax regret
d. Hurwicz (alpha = 0.4)
e. Equal likelihood