Hudson Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the managing (referred to as outsourcing), or using a combination of its own staff and an outside vendor. The cost of the operation depends on future demand. The annual cost of each option in thousands of dollars) depends on demand as follows: Staffing Option Own staff Outside vendor Combination High 650 900 Demand Medium 600 600 650 Low 500 300 500 800 What is the decision alternative when using optimistic approach? What would be the pessimistic decision? What is the criterion of realism decision? Use an a value of 0.7. Should probabilities of occurrence of demand are equal, what is the best alternative? What would be the decision if using minimax regret approach