(Solution) - Robert Ragsdale is trying to decide if he should purchase -(2025 Original AI-Free Solution)

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Robert Ragsdale is trying to decide if he should purchase repair and replacement insurance on a new laptop computer that he is planning to purchase. The policy costs $400.00 at the time of purchase, and over the next three years will replace the laptop if it is stolen or repair it if it is broken. The following table contains the total costs of this decision.

Which alternative is best, according to each of the following decision criteria?
a. Maximin
b. Maximax
c. Laplace
d. Minimax regret