Jeff Winters is considering investing some money that he inherited. The following payoff table gives the profits that would be realized during the next year for each of three investment alternatives Jeff is considering: Alternative Good economy ($) Poor Economy ($) Stock market 75,000 -20,000 Bonds 50,000 25,000 CDs 35,000 14,000 (a) Assuming that Jeff doesnt know anything about the probabilities of good and bad economy, what type of decision-making situation is Jeff facing? (b) What is the best alternative for Jeff under Maximax? (c) What is the best alternative for Jeff under Maximin? (d) With an of 0.75, what is the best alternative for Jeff under Criterion of Realism? (e) What is the best alternative for Jeff under the Equally Likely criterion? (f) What is the best alternative for Jeff under the Minimax regret criterion? According to Wall Street Journal, the chances of good economy are 60%, while the chance of a poor economy is 40%. Jeff would like to use these probabilities in determining the best decision. (g) What type of decision-making situation is Jeff facing? What is the optimal decision for this problem using Expected monetary value criterion? (h) What is the Expected value of perfect information? (i) What is the best option using Expected opportunity loss? (j) Perform sensitivity analysis (using Excel) and show results concerning how the decision might change under different probabilities for good economy? Show the analysis below and make your recommendation. You must provide work leading to equations for EMV calculation, the graph containing sensitivity analysis, and the recommendation. (which means show the EMV equations, graph, calculation of point(s), and recommendation)