Problem 982905: Do not include anything other than numbers in your responses. For example, do not include comma or dollar sign in your numbers. As a rule of thumb, keep 2 decimal places for larger numbers and 3 decimal places for smaller numbers less than 1. A small parts manufacturer has just engineered a new product for the automotive industry. In order to produce the part the company can expand existing facilities, acquire a competitor, or subcontract production. The company believes the product will either experience high market demand or low market demand. The company believes the product will either experience high market demand or low market demand, with probabilities of 0.6 and 0.4, respectively. The following payoff table describes the companys decision situation (all numbers are in thousands). Note that some numbers are negative.

	High Demand	Low Demand
Expand	1800	-1100
Acquire	750	-450
Subcontract	275	35

Create the regret table below. Regret Table:

	High Demand	Low Demand	Maximum regret (for minimax regret approach)
Expand
Acquire
Subcontract

What is the best decision based on minimax regret approach?