Question: answer #1 and #2 using the table provided You own property on a beach that a corporation is offering to buy. You can either sell

answer #1 and #2 using the table provided

You own property on a beach that a corporation is offering to buy. You can either sell the property or build units and make them rentable. You've researched similar vacation areas and discovered that depending on weather patterns, you can have a short season, an average rental season, or an extended rental season. Consider the following payoff table (in $ thousand) for your situation: Short Average | Extended | Maximax | Maximin season season season Cod istic) a | Builds | 0 | 2000 | 4000 _| ee | Sell _| 3000 | 3000 | 3000 [| | | | 1. What are the decision alternatives? 2. What are the states of nature

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