Charm City TV Production is considering producing a pilot for a comedy series ...

          Charm City TV Production is considering producing a pilot for a   comedy series for a major television network. While the network may reject   the pilot and the series, it may also purchase the program for 1, 2 or 3   years. The management of Charm City may decide to produce the pilot or   transfer the rights for the series to a competitor for $200,000. Charm City's   profits are summarized in the following profit (in thousands of dollars)   payoff table.                                                Reject      1   Year          2   Years         3 Years                               Produce   pilot                       -100                300                  450                550              Sell to   competitor                 200                200                  200                200              Determine   whether to produce the pilot or sell to competitor by finding the optimal   decision and the profit associated with it by using the following decision   criteria:   a. Maximax                b. Maximin                c. Equal   likelihood                d. Minimax   regret