Consider the following payoff table:

$\backslash$table$[[,,],[,$Competitor enters market,Competitor does not enter market$],[,0\mathrm{.}3,0\mathrm{.}7],[$Sell business,$7,7],[$Do nothing,$-10,15],[$Increase marketing campaign,$-5,26],[$Improve Product,$5,20]]$

There is a $0\mathrm{.}3$ probability that Competitor enters market. What is the optimal decision based on Minimax?

Do nothing

Improve product

Sell business

Increase marketing

Question $4(1\mathrm{.}5$ points$)$

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What is the optimal decision based on Bayes Rule $($Expected Value$)?$

Improve Product

Do nothing

Sell business

Increase marketing

Answer both Questions please. WILL RATE ANSWER!!