l. {28 marks} An electronics shop is about to buy some highdenition televisions {I-IDTVs). While these have 4K resolution, they do not have any advanced features such as HDR, QLED, or BLED. They can be ordered from the manufacturer at a cost of $210 each. The selling price will be set at $3M each. Demand is estimated as being between 11 and 16 inclusive with probabilities [115 for l], [1.2 for 12, {1.3 for 13, (125 for 14, for 15, and GLIDE for 16. After this purchase, they will only order higherquality 4K and SK resolution HDTVs; any leftover of these lowend 4K TVs will be marked down to $130 each (all leftover stock will sell with no problem at this price]. All parts (a) to {I} may be done either by hand or by using Excel. (a) In a column give the altematives, and use a row to give the outcomes. For each alternative and outcome, calculate the possible payolTs. (b) To the right of part {a}, create columns to determine a retsannnendation using each of the following criteria: (i) expected value, {ii} pessimism, {iii} optimism, (iv) Hurwicx using a coefcient of pessimism of {1.7, and (v) Laplace. {c} Verify (b) (i) using the marginal analysis formula. {d} Find the EVPl. {c} Find the payoffs of the regret matrix. (f) Calculate the EDL colurrm, and verify the solution to (d)