3. 8.66 Four mutually exclusive alternatives are evaluated using three estimates or strategies (pessimistic, most likely, and optimistic) for several parameters. The resulting PW values over the LCM are shown. Table Summary: Table divided into two columns compares four types of strategies based on various parameters. Column 1 notes the strategy. Column 2, PW over LCM, in dollars, is further divided into four sub-groups as: 1; 2; 3; and 4. Strategy PW over LCM, $ 1 2 3 4 Pessimistic (P) 4,500 −6,000 3,700 −1,900 Most likely (ML) 5,100 −500 5,000 −100 Optimistic (O) 9,500 2,000 9,800 3,500 Page 274The best alternative to select using only the pessimistic strategy is 1. 1 2. 2 3. 3 4. 4