do everything in Excel and submit an Excel file.

$1)$ Michey Lawson is considering investing some money that he inherited. The following payoff

table gives the profits that would be realized during the next year for each of the three investment

alternatives Mickey is considering:

STATE OF NATURE

DECISION

ALTERNATIVE

GOOD

ECONOMY

POOR

ECONOMY

Stock market $75,000-10,000$

Bonds $35,00030,000$

CDs $45,00020,000$

Probability $0\mathrm{.}40\mathrm{.}6$

Show complete work in your answers to parts a$-$e:

a$)$ What is the aggressive $($optimistic$)$ strategy decision?

b$)$ What is the conservative $($pessimistic$)$ strategy decision?

c$)$ What is the opportunity loss strategy decision?

d$)$ What is the expected value strategy decision?

e$)$ What is the expected value of perfect information $($EVPI$)?$