A small building contractor has recently experienced two successive years in which work opportunities exceeded the firm$$s capacity. The contractor must now make a decision on capacity for next year. Estimated profits under each of the two possible states of nature are as shown in the table below. What alternative should be selected if the decision criterion is:

Alternative Next year$$s demand is LOW Next year$$s demand is High

Do nothing $ $50,000$ $ $60,000$

Expand $ $20,000$ $ $90,000$

Subcontract $ $40,000$ $ $70,000$

$14.$ What alternative should be selected if the decision criterion is Maxmin?

$15.$ What alternative should be selected if the decision criterion is Minimax regret?