3) Michey 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 the three investment alternatives Mickey is considering: DECISION ALTERNATIVE Stock market Bonds CDs Probability STATE OF NATURE GOOD POOR ECONOMY ECONOMY 110,000 -30,000 40,000 25,000 30,000 28,000 0.65 0.35 a) What decision would maximize expected profits? b) What is the maximum amount that should be paid for a perfect forecast of the economy? c) Develop an opportunity loss table. What decision would minimize the expected opportunity loss? What is the minimum EOL