b) A trust ofcer, Mugisha for a major banking institution is planning the investment of a $ 1 million family trust for the coming year. The trust oicer has identied a portfolio of stocks and another group of bonds that might be selected for investment. The family trust can be invested in stocks or bonds exclusively, or a mix of the two. This trust officer prefers to divide the funds in incrI-ents of 10 percent, that is, the family trust may be split IUD percent stocks flit percent bonds, 90 percent stocks as percent bonds, 8t] percent stocks fit] percent bonds, and so on. The trust oicer has evaluated the relationship between the yields on the di'erent investments and general economic conditions. Her judgment is as follows; 1) If the next year is characterized by solid growth in the economy, bonds will yield 12 percent and stocks 2D percent. 2) If the next year is characterized by ination, bonds will yield 13 percent and stocks 1t] percent. 3) If the next year is characterized by stagnation, bonds will yield 12 percent and stocks 3 percent. I) Formulate a payoff table where payoffs represent the annual yield, in dollars, associated with the different investment strategies and the occurrence of various econonnc conditions ll) Determine the optimal investment strategy using the max-max, max-min, Hmwicz o: = {1.4 , equally likely, and regret criteria. This should be solved basing on Decision Making without probability