occur QUESTION 4 1. A farmer is deciding whether to take precautions to "weather-proof his farm (in case mega typhoons hit it before harvest), "disease-proof it (in case diseases come out before harvest), do both to "full proof" it in case both typhoons & diseases hit it), or simply not take precautions and hope that no untoward event happens. The expected payoffs for each course of action under the four scenarios are presented below. Typhoons Typhoons Diseases No w/ hit crops Typhoons & Diseases Diseases Weather Proofing 100,000 50,000 45,000 110,000 Disease Proofing 65,000 90,000 60,000 100,000 Full-proofing 90,000 80,000 70,000 90,000 No precautions 75,000 60,000 20,000 120,000 What are the relevant values for the different options under the Maximin Criterion? Weather-proofing 110,000 Disease-proofing 100,000 Full-proofing 90,000 No precautions 120,000 Weather-proofing 45,000 Disease-proofing 60,000 "Full-proofing 70,000 No precautions 20,000 Weather-proofing 50,000 Disease-proofing 90,000 "Full-proofing 80,000 No precautions 60,000 Weather-proofing 45,000 Disease-proofing 70,000 d. Full-proofing 60,000 No precautions 20,000 1 points a. b. c