1) A local brewer is trying to determine how much beer to provide for an upcoming brew festival. The decision has boiled down to bringing 1, 2, or 3 kegs, with each keg containing about 124 pints of beer. [Fun trivia fact: This is true. A keg has 1984 ounces and a pint is 16 ounces. 1984/16 = 124.] Each keg costs the brewer $125 to brew and transport to the festival. Each pint sells for $2.50. Any beer left over is given away free to local college students.

a) Assuming the demand is equally likely to be for 1, 2 or 3 kegs, how many kegs should the brewer provide according to the EV?

b) Now assume that for the past 10 years, demand has been low (1 keg) twice, medium (2 kegs) three times, and high (3 kegs) five times. Whats the best decision given this historical data?

c) Whats the best decision according to Minimax Regret?