Use the following information regarding managing risk by a steer feedlot. The manager can purchase 300, 400, or 500 steers and the payoffs will depend on the weather that year. Weather outcome Good Average Poor Probability 0.1 0.6 0.3 Buy 300 $15,000 8,000 2,000 Purchase strategy Buy 400 Buy 500 $20,000 $25,000 10,000 12,000 -4,000 10. What is the maximum value of the "Buy 300" strategy? a. $15,000 b. $20,000 c. $8,000 d. $0 e. None of the above 11. What is the minimum value of the Buy 300" strategy? a. $2,000 b. $10,000 c. $8,000 d. $O e. None of the above 12. Which strategy should be selected under the "most likely outcome decision rule? a. Buy 300 b. Buy 400