2) Given the following conditional value table, determine the appropriate decision under uncertainty using: 1) Optimistic method 2) Pessimistic method 3) Equally likely method States of Nature Maximum Minimum Row Average Fair Alternatives Poor in Row in Row Good Market Market Market Construct large plant $200,000 $80,000 $20,000 Construct medium plant $120,000 $50,000 $10000 Construct small plant $60,000 $25,000 $ $5000 Do nothing $0 SO SO 1. Optimistic method decision: Pessimistic method decision: 3. Equally likely method decision: 3) Given the following conditional value table, determine the appropriate decision under risk using Expected Monetary Value (EMV) and the probabilities of states of nature as follow: Good Market (0.40), Fair Market (0.40), Poor Market (0.20). States of Nature Alternatives Good Market Fair Market Poor Market 1 - Construct large plant $180,000 $100,000 -$160,000 2- Construct small plant $80,000 $30,000 -$20,000 3- Do nothing SO $0 SO