Accept $2 Billion Max Result 2 Texaco Accepts $5 Billion (0.17) 5 High (p) 10.3 Counteroffer Texaco Refuses (0.50) Medium (9) 5 Final Court Decision $5 Billion Counteroffer Low (1-p-9) 0 High (p) 10.3 Refuse Medium (9) 5 Final Court Decision Low (1-p-9) 0 Texaco Counter (0.33) offers $3 Billion Accept $3 Billion 3 Note that three strategies are possible: (A) Accept $2 billion, (B) Counteroffer $5 Billion and then accept $3 Billion if Texaco counteroffers, and (C) Counteroffer $5 Billion and then refuse $3 Billion if Texaco counteroffers. 2. (2 points) If Liedtke thinks that p must be at least 0.15 and q must be more than 0.35, q can he make the decision without further probability assessment? If yes, provide the optimal strategy. If not, please provide an explanation