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Management is also analyzing overage and underage costs. Overage costs are incurred when quantity produced exceeds demand, leading to wastage. Underage costs are stockout (or shortage) costs: the cost of lost contribution to profit when demand exceeds supply. Suppose the analysis resulted in the following payoff table for the bakery. Payoffs are costs in dollars.

	Low Demand	Medium Demand	High Demand
Light Production	230	690	1,330
Moderate Production	890	350	870
Heavy Production	1,180	810	350

Determine the best decision alternative and its associated payoff using each of the following criteria:

the optimistic criterion Best Payoff =$=$ Decision: Select an answer Light Moderate Heavy Light or Moderate Light or Heavy Moderate or Heavy Indifferent Light and Moderate Light and Heavy Moderate and Heavy

the pessimistic/conservative criterion Best Payoff =$=$ Decision: Select an answer Light Moderate Heavy Light or Moderate Light or Heavy Moderate or Heavy Indifferent Light and Moderate Light and Heavy Moderate and Heavy

the equally likely criterion Best Average Payoff =$=$ Decision: Select an answer Light Moderate Heavy Light or Moderate Light or Heavy Moderate or Heavy Indifferent Light and Moderate Light and Heavy Moderate and Heavy

the realism criterion with = 0.2 Best Weighted Payoff =$=$ Decision: Select an answer Light Moderate Heavy Light or Moderate Light or Heavy Moderate or Heavy Indifferent Light and Moderate Light and Heavy Moderate and Heavy

the minimax regret criterion Minimax Regret =$=$ Decision: Select an answer Light Moderate Heavy Light or Moderate Light or Heavy Moderate or Heavy Indifferent Light and Moderate Light and Heavy Moderate and Heavy