vorable market ( $ RCISE) ILA DoulUS Ken is the Managing Director of Brown Construction Ltd. Currently, he is forced to consider purchasing some equipment for his company because of competition. He need to choose one from three equipment available in the quipment market. Equipment Sub 100 will realize a profit of 100 Sub $300,000 in favorable market, but in unfavorable market, Oiler he will suffer a loss at $200,000. Other equipment, Oiler J and Texan will realize a profit of $250,000 and $75,000 respectively in favorable market. But in unfavorable market, he will suffer a loss of $100,000 for Oiler J and $18,000 for Texan. Q1 a) Create payoff table for Brown Construction's problem. b) Ken is very optimistic decision maker. What decision would he choose? c) Bob is one of the director of Brown Construction Lid. He attributes his success in business to his risk averse attitude. What decision alternative would he select? d) Should the chance of favorable and unfavorable market are the same, what would be the decision? e) Ken and Bob agreed that they would use Criterion of Realism approach to make decision. What would be they decision if they decided to use a=0.65? f) What would be the decision if both of them decided to minimize opportunity loss