Solve the homework in the picture below please:

All questions and context is in the picture...

Q: 3-20 Mickey Lawson is considering investing some x money that he inherited. The following payoff ta- ble gives the prots that would be realized during the next year for each of three investment alterna- tives Mickey is considering: STATE OF NATURE DECISION GOOD POOR ALTERNATIVE ECONOMY ECONOMY Stock market 80,000 20,000 Bonds 30,000 20,000 CDs 23.000 23,000 Probability 0.5 0.5 (a) What decision would maximize expected prots? (b) What is the maximum amount that should be paid for a perfect forecast of the economy? Develop an opportunity loss table for tin investment problem that Mickey Lawson faces in Problem 3-20. What decision would minimize the expected oppor- tunity loss? What is the minimum EOL