1. Stevie Stone, a bellhop at the Royal Sundown Hotel in Atlanta, has been offered a management position. Although accepting the offer would assure him a job if there were a recession, if good economic conditions prevailed, he would actually make less money as a manager than as a bellhop (because of the large tips he gets as a bellhop). His salary during the next 5 years for each job, given each future economic condition, is shown in the following payoff table:

Select the best decision, using the following decision criteria.

1. Stevie Stone, a bellhop at the Royal Sundown Hotel in Atlanta, has been offered a management position. Although accepting the offer would assure him a job if there were a recession, if good economic conditions prevailed, he would actually make less money as a manager than as a bellhop (because of the large tips he gets as a bellhop). His salary during the next 5 years for each job, given each future economic condition, is shown in the following payoff table:
   

   	Economic Conditions
   Decision	Good	Recession
   Bellhop	$120,000	$60,000
   Manager	85,000	85,000

   Select the best decision, using the following decision criteria.

   1. Minimax regret
   2. Hurwicz (a= .4)
   3. Equal likelihood