5.Pashley Package Holidays has to decidewhether to discount its holidays to destinations abroad next summerin response to poor consumer confidence in international travelfollowing recent military events. If they do not discount theirprices and consumer confidence in air travel remains low thecompany expects to sell 1300 holidays at a profit of £60 perholiday. However, if they discount their prices and confidenceremains low they expect that they could sell 2500 holidays at aprofit of
£35 per holiday. If they do not discount their prices andconsumer confidence in air travel recovers they could expect tosell 4200 holidays at a profit of £50. If they do discount theirprices and consumer confidence recovers, they could expect to sell5000 holidays at a profit of £20. Recommend which course of actionthe company should take with the aid of:
                                                                                                    (MakePay-off table)
(a) the maximax decision rule
(b) the maximin decision rule
(c) the minimax regret decision rule
(d) the equal likelihood decision rule
