2 A clothing manufacturer is considering the following 4 options to handle the risk it faces with the following respective costs: Retention Expected cost of 600 Partial Insurance Expected cost of 715 . Deductible Insurance Expected cost of 800 Full Insurance Expected cost of 960 If the risk manager makes decisions by minimizing TOTAL COST, show what conditions on the WVs would make: A. Full insurance preferred to Retention? Show all work and explain the numerical answer. (3 points) B. Deductible Insurance preferred to Partial Insurance? Show all work and explain the numerical answer. (3 points) For ease of exposition call the WV WV. (retention) WV. (partial insurance) WV. (deductible insurance) WV (full insurance)