2. Sava Dogger is a 4H club member and has cultivated an extremely large pumpkin. He is interested in maximizing the revenue that he receives for this pumpkin. He may sell the pumpkin to a local business, enter the pumpkin in the county fair or enter the pumpkin in the state fair. Due to the shelf life of the 127 pumpkin, he may only select one purpose for her pumpkin. The offer from the local retailer is constant. The ability to win in the county and state fairs will be based on the degree of competition in each location. The competition may be weak or strong at the county fair and again weak or strong at the state fair.

a. Identify the states of nature in this decision.

b. Identify the alternatives in this decision.

c. What approach would you recommend for making this decision?