Problem 2 The manager of a construction company must decide whether to build single family homes, apartments, or condominiums. Profits (in thousands of dollars) are given in the following table and depend on various possible population trends. The probability of a declining population is 0.4, the probability for a stable population is 0.5 and the probability of a growing population is 0.1 Payoff table (in thousands of dollars}: Declining Population Stable Population Growing Population Single Family Homes 200 90 70 Apartments 70 170 l 90 Condominiums -20 100 220 a) if the manager wants to minimize maximum regret, which alternative should she choose? b] if the manager wants to maximize expected values, which alternative should she choose? c) What is the most amount of money that she should be willing to spend to get more information about the possible population trends