QUESTION 1 Your restaurant chain is considering 3 different alternatives to respond to the tightening public health measures. The following table shows the 3 alternatives, the colour-coded tiers (ie. states of nature) and their payoffs Alternative # Prevent Protect Restrict Control 1 $400,000 $150,000 $30,000 $80,000 2 $650,000 $200,000 $80,000 $200,000 3 $300,000 $100,000 $20,000 So What would be your choice if you were optimistic about the future? Write down the Alternative # in the box What would be your choice if you were pessimistic about the future? Write down the Alternative # in the box If you believed that there is equal chance for each state of nature to happen, what would be your choice? Write down the Alternative # in the box