G& R Publishing is publishing a new cookbook, which they feel will set it apart from the current competition. The publisher needs to select one version of the cookbook from the following list of alternatives: Version 1: This book will be approximately 500 pages in length, printed in four colors, and have a hardback cover. Version 2: This book will be approximately 350 pages in length, printed in two colors, and have a soft back cover. Version 3: This book will be approximately 200 pages in length, printed in grayscale (no color) and have a soft back cover. Once the book is printed, the demand for it will be either strong or weak and the payoffs will be as follows:

Choose the best version of the cookbook to publish using the following criterion:
a. Maximax
b. Maximin
c. Equally likely
d. Minimax regret
e. Hurwicz using α = 0.5

Demand Weak Alternative Strong Version 1 Version 2 Version 3 100,000 $ $400,000 -$200,000 S250,000 -$100,000 $50,000