2. A hosiery company must make a pricing decision regarding its new line of stockings. Two economists have been hired to develop forecasting equations that relate the quantity demanded to the price of the stockings. The forecasting equations the economists derive are: Economist 1: g=10-2p Economist 2: q= 16 - 4p where q is the quantity demanded in units of 100,000 and p is the price in dollars. Four prices are being considered: $0.99, $1.98, $2.75, and $3.50. Assume that one of the economists' forecasting equations will be correct, but you do not know which one. (a) Construct the payoff and opportunity loss table. (b) Determine the best decision using the maximax, maximin, Laplace, Hurwicz (o = 0.70), and Savage criteria. (c) If the company believes the forecasting equations have an equal probability of being correct, which price should be charged according to the expected value criterion? What is the EVPI