A manager is deciding whether or not to build a small facility. Demand is uncertain and can be either at a high or low level. If the manager chooses a small facility and demand is low, the payoff is $300. If the manager chooses a small facility and demand is high, the payoff is $100. On the other hand, if the manager chooses a large facility and demand is low, the payoff is -$200, but if demand is high, the payoff is $800.

(a) Develop a payoff table below.

(b) Develop a regret table below. Payoff Table Low High Regret Table Low High Small Small Large Large

(c) What would be the best decision based on the minimax regret? __________________________________