After spending 30 years as a successful Portfolio Manager in various industries in Toronto, it is time for you to concentrate on your retirement; you have a difficult decision to make on how you would want to invest your hard earned money in an uncertain economic condition. You are considering the following 3 investment vehicles: Bonds Stocks Mutual Funds Based on your Financial Advisor, you understand the following will be the "pay-off" for your capital under three economic conditions (Growing Economy, Stable Economy, and Declining Economy): Growing Economic Conditions: Bonds will pay-off $400,000 Stocks will pay-off $700,000 Mutual Funds will pay-off $530,000 Stable Economic Conditions: Bonds will pay-off $450,000 Stocks will pay-off $300,000 Mutual Funds will pay-off $450,000 Declining Economic Conditions: Bonds will pay-off $50,000 Stocks will pay-off ($130,000) - Loss Mutual Funds will pay-off ($50,000) - Loss How are the three economic conditions (Growing, Stable, and Declining) called in the Decision Table? States of Nature Pay-off None of the above. Alternatives