A fish market sells fresh fish and seafood. The market receives daily shipments of farm-raised trout from a nearby supplier. Each trout costs $2.65 and is sold for $3.45. To maintain its reputation for freshness, at the end of the day the market sells any leftover trout to a local pet food manufacturer for $1.05 each. The owner of the market wants to determine how many trout to order each day. Historically, the daily demand for trout is:

Demand	10	11	12	13	14	15	16	17	18	19	20
Probability	0.02	0.06	0.09	0.11	0.13	0.15	0.18	0.11	0.07	0.05	0.03

Construct a payoff matrix for this problem. (a)What decision should be made according to the maximax decision rule? That is, how many trout should be ordered?

What decision should be made according to the minimax regret decision rule? That is, how many trout should be ordered?

(d)What decision should be made according to the EMV decision rule? That is, how many trout should be ordered?

(e)What decision should be made according to the EOL decision rule? That is, how many trout should be ordered?

(f)At most, how much should the owner of the market be willing to pay (in dollars) to obtain a demand forecast that is 100% accurate? (Round your answer to the nearest cent.)

(g)Which decision rule would you recommend the market use in this case? Why

Please use values given in chart.