Decision Analysis Models A car manufacturer wants to increase his car sales by introducing a new exhaust less polluting than other brands. He is faced with three outcomes relating to the Car Market condition, and three decision alternatives on how to introduce the exhaust. The table below displays the estimated payoffs (in AED) resulting from all combinations of decision alternatives with outcomes Outcomes (sales will be affected by) 0,: Favorable Oz: Normal Car Oz: Unfavorable Car Market Market Car Market 80,000,000 40,000,000 -40,000,000 Decision Alternatives A,: offer the exhaust as an option in luxury cars Ayoffer it as an option in sports cars Ag: install it on all cars with an increase in price Probabilities 90,000,000 45,000,000 -25,000,000 100,000,000 -70,000,000 55,000,000 0.3 0.5 0.2 1. If the decision is taken under uncertainty, find the best decision alternative using the Maximax criterion. 2. Now with the given outcomes' probabilities, what is the best decision alternative according to the EMV criterion? 3. Use the EVPI to decide whether the car manufacturer should buy perfect information for AED 7,000,000 or not. 1. If the decision is taken under uncertainty, find the best decision alternative using the Maximax criterion