Please answer all parts including the bonus part.

Please show all steps, thank you.

A student already has an offer of employment. She must now decide between three possible courses of action: To visit another potential employer in the UK for further interviews. She views the time and effort of doing so as having a cost of 1000, which will be incurred whether or not she takes a job with this employer. If the employer offers her a position, this would be viewed as a benefit worth 10000 (from which the 1000 cost must be subtracted). Otherwise, her time and effort would have been wasted. To visit another potential employer overseas for further interviews. She views the time and effort of doing so as having a cost of 3000, which will be incurred whether or not she takes a job with this employer. If the employer offers her a position, this would be viewed as a benefit worth 30000 (from which the 3000 cost must be subtracted). Otherwise, her time and effort would have been wasted. To accept the original offer, and attend no further interviews. a) Set up the payoff table for the student's decision-making problem. b) Suppose the student believes that the probability is p=0.2 that she will be offered a better position with the UK company, and the probability is q=0.05 that she will be offered a better position with the overseas company. Using the expected value criterion, advise the student. c) Give possible alternative values for p and q that will lead to a different outcome to the student's decision problem. [For a bonus mark, find conditions on p and q which will enable the student to choose her optimal strategy.] A student already has an offer of employment. She must now decide between three possible courses of action: To visit another potential employer in the UK for further interviews. She views the time and effort of doing so as having a cost of 1000, which will be incurred whether or not she takes a job with this employer. If the employer offers her a position, this would be viewed as a benefit worth 10000 (from which the 1000 cost must be subtracted). Otherwise, her time and effort would have been wasted. To visit another potential employer overseas for further interviews. She views the time and effort of doing so as having a cost of 3000, which will be incurred whether or not she takes a job with this employer. If the employer offers her a position, this would be viewed as a benefit worth 30000 (from which the 3000 cost must be subtracted). Otherwise, her time and effort would have been wasted. To accept the original offer, and attend no further interviews. a) Set up the payoff table for the student's decision-making problem. b) Suppose the student believes that the probability is p=0.2 that she will be offered a better position with the UK company, and the probability is q=0.05 that she will be offered a better position with the overseas company. Using the expected value criterion, advise the student. c) Give possible alternative values for p and q that will lead to a different outcome to the student's decision problem. [For a bonus mark, find conditions on p and q which will enable the student to choose her optimal strategy.]