An investor has one of three options from which to choose; do A, do B, or do nothing. There are three states of nature. The payoff table in terms of profit is:

	States of world
Option	S1	S2	S3
A	30,000	20,000	Minus 50,000
B	50,000	Minus 20,000	Minus 40,000
Do nothing	0	0	0

a-for each decision show the numbers you use when using an optimistic approach of choosing which one item to do and indicate which is best by this method.

b- for each decision show the numbers you use when using a conservative approach of choosing which one item to do and indicate which is best by this method.

c-show the numbers you use in a new table using the minimax regret method of choosing which one item to do and indicate which item is best by this method.

d-What is the expected value of each option when the probability of S1, s2, and S3, are, respectively, .3, .5, and .2. What is the best option under the expected value approach?

e-show the calculations you would make to determine the expected value of perfect information.