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Assume you have 5 different whole farm plans that you and the board are considering (including shutting down the farm). The payoff table below captures the expected net prots from each alternative under two different market conditions (positive and negative). Which alternative would you chose if the board dirrected you to impliment the Expected Opportunity Loss tactic? PAYOFF TABLE Regret Outcomes Outcomes Alternative Positive Negative Alternative Positive Negative Alternative 1 500,000 1,000 Alternative 1 Alternative 2 200,000 [55,250] Alternative 2 Alternative 3 120,000 80,000 Alternative 3 Alternative 4- 720,000 (1,000,000) Alternative 4- Shutdown (200,000) (200,000) Shutdown Probabilities 62% 48% Probabilities 62% 48% EOL Regret Choice Alternative 1 Alternative 2 Alternative 3 Alternative 4 Shutdown