Mary is organizing a special outdoor show which will take place on October 15 in New Orleans. The earnings from the show will depend heavily on the weather. If it rains on October 15, the show will lose $20,000; if it is sunny on October 15, the show will earn $15,000. Historically, the likelihood of raining on any given day in mid-October is 28%. Suppose that today is October 5. Mary should either proceed or cancel the show by the end of today. If she cancels the show, she will then lose her $1,000 deposit on the facilities. 6. What is Mary's optimal decision according to the Minimax Regret rule? (5 points) Answer: 7. What is the amount of regret from the above decision? (5 points) Answer: 8. What is Mary's optimal decision according to the EMV criterion? (5 points) Answer: 9. What is the EMV 'om the optimal decision in Question 8? (5 points) Answer: 10. If she knows the exact weather on October 15, how much more EMV can she earn compared to the current situation? That is, what is the expected value of perfect information? (5 points)