A firm can build a small, medium or large factory, with anticipated profits from each dependent upon

A firm can build a small, medium or large factory, with
anticipated profits from each dependent upon the state of demand, as in the
table below.

(a) Which project should be chosen on the expected value
criterion?

(b) Which project should be chosen on the maximin and
maximax criteria?

(c) Which project should be chosen on the minimax regret
criterion?

(d) What is the expected value of perfect information to the
firm?