A company has to decide whether or not to continue with plans to run a conference next June at a hotel. If it decides to continue, then it will either make a profit of $1 million or lose $0.8 million. If it decides to cancel, it will either lose $0.2 million in compensation payments to participants or if it is also sued by the hotel, lose a total of $0.6 million. According to the maximin criterion the company should: a. cancel the event b. continue with the event c. be indifferent between continuing with the event or cancelling it d. estimate probabilities for the different payoffs before applying the criterion In a decision problem involving two attributes, the difference between the worst and best levels of attribute 1 is much more important to a decision maker than the corresponding difference on attribute 2 . Given the formula u(x1,x2)=k1u(x1)+k2u(x2)+k3u(x1)u(x2) where x1= the level of attribute 1 x2= the level of attribute 2, which of these statements is true? a. k2 will be larger than k1 b. k3 will be larger than k1 c. k1 will be larger than k2 d. No inferences relating to k1,k2 or k3 can be discerned from the information provided