General Studies · Decision Theory - Minimax Regret

NG is deciding which of four potential venues (Ayefield, Beefield, Ceefield, or Doefield) should be used for an event. The regret matrix for different weather-based demand levels is as follows: Low Demand: Ayefield ($0), Beefield ($200,000), Ceefield ($300,000), Doefield ($450,000) Medium Demand: Ayefield ($330,000), Beefield ($110,000), Ceefield ($0), Doefield ($150,000) High Demand: Ayefield ($810,000), Beefield ($590,000), Ceefield ($480,000), Doefield ($0) If the company applies the minimax regret criterion, which venue should be chosen?