2:3-21 Develop an opportunity loss table for the investment problem that Mickey Lawson faces in Problem 3-20. What decision would minimize the expected oppor- tunity loss? What is the minimum EOL? Q:3-20 Mickey Lawson is considering investing some money that he inherited. The following payoff table gives the profits that would be realized during the next year for each of three investment alternatives Mickey is considering: STATE OF NATURE DECISION ALTERNATIVE GOOD ECONOMY POOR ECONOMY Stock market Bonds 80,000 30,000 23,000 - 20,000 20,000 23,000 0.5 CDs Probability 0.5 (a) What decision would maximize expected profits? (b) What is the maximum amount that should be paid for a perfect forecast of the economy? Q:3-21 Develop an opportunity loss table for the investment problem that Mickey Lawson faces in Problem 3-20. What decision would minimize the expected oppor- tunity loss? What is the minimum EOL