Consider the accompanying payoff table. Complete parts a through e below.

Demand Level

Alternative

$1$

$2$

$3$

$4$

A

B

C

D

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Part $1$

a$.$ Choose the best alternative using the maximax criterion.

Alternative

$$

D

C

B

A

is the best alternative based on the maximax criterion because its

$$

average

maximum

minimum

payoff is the

$$

lowest

highest

of all the actions.

Part $2$

b$.$ Choose the best alternative using the maximin criterion.

Alternative

$$

A

B

D

C

is the best alternative based on the maximin criterion because its

$$

average

minimum

maximum

payoff is the

$$

lowest

highest

of all the actions.

Part $3$

c$.$ Choose the best alternative using the equally likely criterion.

Alternative

$$

A

D

C

B

is the best alternative based on the equally likely criterion because its

$$

minimum

maximum

average

payoff is the

$$

highest

lowest

of all the actions.

Part $4$

d$.$ Choose the best alternative using the minimax regret criterion.

Alternative

$$

A

D

C

B

is the best alternative based on the minimax regret criterion because its

$$

average

maximum

minimum

regret is the

$$

lowest

highest

of all the actions.

Part $5$

e$.$ Choose the best alternative using the Hurwicz criterion with $.$

Alternative

$$

B

C

A

D

is the best alternative based on this Hurwicz criterion because its weighted$$ average, $$$

$$

enter your response here$,$ is the

$$

highest

lowest

of all the actions.