Amy Lloyd is Interested in leasing a new car and has contacted three automobile dealers for pricing information. Each dealer offered Amy a closed-end 36 month lease with no down payment due at the time of signing. Each lease includes a monthly charge and a mileage allowance. Additional miles recelve a surcharge on a per-mile basis. The monthly lease cost. the mileage allowance. and the cost for additional miles.

beleves it is reasosable to assume ths she will deve 12,000 mles per yeac, 15,000 miles per yeas, or 15,000 mies per year, wath this assumption Any estimated her total couts for the three lease options. Fer exarole, she flgures that the Dealer A leose wil cost her 511,45 i e he drives 12,000 miles per wea, 512,374 if he drives 15,000 miles per year, or 514,134 if he dives 18,000 miles per year. (a) What is the deckise, and ahat is the chanse event? The decision is to choose There are alternatives. The chores event is There are sossile outeomes. (b) Contruct a payoti table, (Enter your ariswers in s). The recommended deolisa usina the eptimitic approsch is The recommensed dachion uning the convervaive approsch is The recommended dechese ving tha mainax regiet apgroach is The recommended decision illse the optimistic approach is . The resommended decibon using the corienative approach is . The reconumended decksion using the minimas regret oberbach is EwDoaier A)=s EWDealer B) =5 FWDesler Cl=$ The beet decivion is (e) Develop a risk prodile for the decision selected in part (d). Whit is the mest likely cost, and what is its peobsbilb? (Submit a file with a maxirnem sire of I Ma) ? No the chosen inake using the eepected value appreoch? FWDesien A in =5 EwDeder e) =5 twDebler C ) s The best deckion is