The publisher of Exercise 22 faces a two-stage decision problem, for which the possible eventual payoffs (in dollars) are as follows: -110,000 -80,000 50,000 80,000 220,000 250,000 A utility of 0 is assigned to a loss of $110,000 and a utility of 100 to a profit of $250,000. For each intermediate payoff /, the probabilities p such that the publisher is indifferent be- tween payoff / with certainty and a gamble in which $250,000 is gained with probability p and $110,000 lost with probability (1p) are given in the accompanying table. If this publisher wants to maximize expected utility, what strategy should he follow? PAYOFF -80,000 P .20 50.000 .45 80,000 .55 220,00 .95