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You are planning to build a new facility in New Orleans and need to determine the facility size. Consider the following table. Payoffs are in

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You are planning to build a new facility in New Orleans and need to determine the facility size. Consider the following table. Payoffs are in $ millions. (a) If you are a pessimistic decision maker, what size do you want to have at the facility? Explain in simple non-technical English. Show your work. (b) If you are an optimistic decision maker, what size do you want to have at the facility? Explain in simple non-technical English. Show your work. (c) If you are a rational decision maker and want to maximize the average/expected long-term profit, what size do you want to have at the facility? Explain in simple non-technical English. Show your work. (d) If you hire a consultant to give you perfect information on the annual demand, how much are you to pay for the consulting service

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