Allison Walker owns a small chain of bed and breakfasts named the Cheshire Cat in the Northeast. 2 hotel chains have offered to partner with her to add up to 3 more bed and breakfasts with the same name in the next 3 years. She needs to decide which hotel chain to choose. Both hotels chains offer the same deal, but with different locations and different payouts. National Hotels will expand only in the US, and Worldwide Hotels will expand only in Europe. Both offer the same probabilities for the expansions. The 1st B&B will be built within 3 months. If that B&B is successful, a 2nd B&Bs will be built after one year. If that B&B is successful after a year, a 3rd Cheshire Cat will be built. However, if any of the new B&Bs are not successful, no more will be added. So she may end up with only 1 additional B&B or she could end up with 2 or 3 additional B&Bs depending on the successes of each previous B&B . . . National Hotels Expansion Payouts 1 additional B&B - $500,000 2 additional B&Bs- $750,000 3 additional B&Bs - $1,250,000 Worldwide Hotels Expansion Payouts 1 additional B&B - $250,000 2 additional B&Bs- $750,000 3 additional B&Bs - $2,000,000 I Probabilities of Success (additional B&Bs will be built) P(Only 1 B&B will be built) - 0.3 P(Only 2 B&Bs will be built) =0.5 - P(All 3 B&Bs will be built) - 0.2 Create a Payoff Matrix and show your work to answer the following. (Hint: The table needs to contain all information to be considered complete) Using the Maximin method, which company should she choose to expand with Using the Expected Value method, which company should she choose to expand with? You may write your answer on a separate piece of paper and submit that on ELMS along with this quiz document.)