The owner of a small food store stocks specifically aged steak. In the past 100 weeks, the store has experienced the following weekly demand for this steak (in pounds): Weekly Demand (pounds) Frequency (Weeks) 20 10 25 30 40 50 60 10 The owner buys the meat from his supplier for $2.00 per pound and sells the steak for $5.00 each. Whatever is left unsold at the end of the week must be discarded.
a. Build the payoff table for this decision situation.
b. Build the regret table for this decision situation.