Question: Question 4 1.5 pts A small building contractor has recently experienced two successive years in which work opportunities exceeded the firm's capacity. The contractor must

Question 4 1.5 pts 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. The capacity alternatives are Do Nothing, Expand, and Subcontract. Estimated profits (in thousands) under each of the two possible states of nature (Low Demand, High Demand) are shown in the table below. Using the minimax regret decision criteria, what is the minimum maximum regret (in thousands)? Alternatives: Do Nothing Expand Subcontract Low Demand High Demand 5258 2277 40 73

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