Question: A manager's staff has compiled the information below which pertains to four capacity alternatives under four states of nature. Values in the matrix are present value in thousands of dollars.

1 2 3 4

A 50 30 20 40

B 40 30 30 35

C 30 30 35 30

D 20 25 35 30

a.) Assuming a Minimax Regret strategy, which alternative would be chosen?

b.) If Maximin were used, which alternative would be chosen?

c.) If states of nature are equally likely and an expected monetary value criterion of maximization is used, what is the expected value of perfect information?