You are a business owner faced with an important decision that could potentially be very lucrative. Keep in mind the six steps in decision-making as you set up your decision analysis. Any business, shoe store owner, Restaurant owner, thrift store, etc...

1. Create a scenario in which your business needs to make a decision.
2. Identify at least three alternatives and three states of nature for the decision.
3. Create a decision table in Excel that includes:
   • the alternatives
   • the states of nature
   • the potential payoff/losses for each alternative
   • Note: These fictitious amounts should be based on any information you feel is pertinent in your business decision-making.
4. Include the payoff table in the essay and as an attachment to the Discussion Board.
5. Choose one of the three decision strategies:
   • Optimistic
   • Pessimistic
   • Criterion of realism
6. For the decision strategy chosen above:
   • List the best payoff.
   • List the alternative to use based upon the payoff.
   • State why the decision strategy was chosen.
7. Indicate your final decision.