The AA's Company is considering whether to lease land, buy land, or rent a building. The company assumes that it is possible to estimate a probability of 0.70 that good foreign competitive conditions will exist and a probability of 0.30 that poor conditions will exist. See the payoff table below Good Conditions Bad Conditions Lease Land Buy Land 80,000 50,000 130,000 -15,000 Rent a Building 32,000 32,000 PAYOFF TABLE Requirements: RADC a. b. Determine the best decision by using expected value and how much Determine the best decision by using expected opportunity loss and how much C. Compute the expected value of perfect information