Examine the table of costs for company ABC below. Remember what businesses try to do with costs. Alternatives State A (25%) 5500 State B (40%) 6500 State C (35%) 8500 Project 1 Project 2 10000 7500 4000 Given this information, please answer the following questions. 6. If ABC follows the Optimistic criteria for decision making and the probabilities listed were not known, which project would they choose and what value would they expect? 7. If ABC follows the Pessimistic criteria for decision making and the probabilities listed were not known, which project would they choose and what value would they expect? 8. What is the Expected Monetary Value for Project 1, given the probabilities listed for the three states of the world? 9. What is the Expected Monetary Value for Project 2, given the probabilities listed for the three states of the world? I 10. Which project would ABC take if they used the EMV criteria? Explain