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 400 . Partial Insurance Expected cost of 725 . Deductible Insurance Expected cost of 840 Full Insurance Expected cost of 1050 . If the risk manager makes decisions by minimizing TOTAL COST, show what conditions on the WVs would make: A. Full insurance preferred to Partial Insurance? Show all work and explain the numerical answer. (3 points) B. Retention preferred to Deductible Insurance? Show all work and explain the numerical answer. (3 points) For ease of exposition call the WVs: WV. (retention) WV, (partial insurance) WV. (deductible insurance) WV (full insurance)