Given the following table, determine the appropriate decision under uncertainty if the decision make

Question: Given the following table, determine the appropriate decision under uncertainty if the decision maker:

a) is an optimist.

b) is very conservative.

c) wants to minimize their regret.

d) What would the decision maker do if she could make the decision under condition of risk with probabilities of .2 for a favorable market, .3 for an average market, and .5 for an unfavorable market?

e) What is the expected value of perfect information? Interpret this value.

Alternatives	Favorable Market	Average Market	Unfavorable Market
Build a new plant	$350,000	$240,000	-$300,000
Subcontract	$180,000	$90,000	-$20,000
Use overtime	$110,000	$60,000	-$10,000
Do nothing	$ 0	$ 0	$ 0