Subject: Project Risk Management Assignment 4: Quantitative Risk Analysis Review the following scenario, and answer the questions: A market buys bison steaks by the pound from a cooperative of free-range bison farmers. The purchase price is $11.50 per pound of bison meat, and the market sells the steaks for $15.00 per pound. Bison steaks left over at the end of the week are sold wholesale to a local cannery for $5.50 per pound. According to sales records over the past 100 weeks, demand has been as follows: Weekly demand | Number of weeks 10 | 10 11 | 20 12 | 20 13 | 30 14 | 10 15 | 10 TOTAL 100 Construct a payoff table for the various demand and stocking quantities. Determine the best amount to stock using each of the following criteria: a) Laplace b) maximin c) maximax d) Hurwicz (a = 0.2) e) regret (minimax) If the market can obtain perfect information concerning the following week's demand for steak, what will the expected profit be? Determine the optimal stock quantity. (Supporting work can be included as scans / pictures if clear and legible to me. Please make sure the table is clearly readable)