Case Tasks 1 point int ue toa ramaticd cline ih the number fviSitrs ue to COVID-19, the e park Magic World as suffered assive loss in 2020 which forced the company to put on hold planned renovations of current attractions an nstruction of new attractions. 70% of health experts believe that life will become normal after the generab opulation gets vaccinated, the remaining 30% argue that the vaccines will not be d therefore wearing masks and limiting gatherings may still be enforced for few yearsa life gets back to normal, Magic World expect revenues to match pre-COVID figures, so renova ions an ould be implemeted. Keepingprppctspmhp e gets back to normal. Assume the probability of life g tcvnorma itio e company is considering 4 decision alternatives; . Keep Renovations and Additions on Hold, with pay S . Impleme doesn' . Keep Renovation doesn' . ImplementbOth enovatio m emen and Addi i Itions with Wit a a Offs O o 1 OSS I s O if lif I e gets ac o norma "an e es a to norm an baCkt& armal an - -110 10 oesn oss if Construct the payoff table and, using the Expected Value approach, obtain the Optimal Decision and corres ondiogpected Value. Show work in yellow area below Conduct a sensitivity analysis using Excel's Data Table, with similar columns to the ones we develqped in class: -First column: Prob of Life Back to Normal, with values ranging from 0 to 1 b .1 increments -Second column: Optimal Decision -Third column: Expected Value Place SensitvityTable inside the yellow area below