Visions is a major Canadian electronics firm that manufactures a number of electronic components for domestic and global consumer electronics companies. It imports most of its materials and the components used in its products to Canada from overseas suppliers. Visions is in the process of trying to improve its global supply chain operations. As part of this process, the company wants to determine a single supplier located at one of the world€™s major ports to contract with for the majority of its business. The company is considering six suppliers, each located at one of the following ports: Hong Kong, Singapore, Shanghai, Busan, and Kaohsiung. The company has estimated the possible profit (or loss) it might achieve with each of the potential suppliers depending on a variety of possible future company and port conditions, including IT capability, port growth and expansion, ship and container availability, security, regional market and political environment, and transport to the port from the supplier€™s suppliers. Depending on these various factors, further supplier and port conditions could decline, grow and expand, or remain the same. The following payoff table summarizes the increased outcomes (in $ millions) for the potential suppliers and the possible future states of nature for a specific time frame.

Determine the best decision using each of the following criteria:
(a)  Maximax
(b)  Maximin
(c)  Equal likelihood
(d)  Hurwicz (α =0.65)
(e)  Minimax regret

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States of Nature Declining Same Growth Decision Conditions Conditions Conditions $67 Hong Kong $28 -S31 Singapore 33 71 -24 Shanghai 35 55 -28 Busan 25 49 -17 Kaohsiung -15 41 59