A businessman has three alternatives open to him and each of which can be followed by any of the four possible events. The conditional payoffs foe each action event combination are given…

A businessman has three alternatives open to him and each of which can be followed by any of the four possible events. The conditional payoffs foe each action event combination are given below:ActionEventsABCDP180-106P2-41218-2P314998What action should be chosen, if the criterion of choice is i. Maximax ii. Hurwitz criterion if the coefficient of pessimism is 0.60? iii. Laplace Criterion