Include the payoff table on your worksheet and show your work. There is a typo in the problem description, and it should read, For parts d and e, assume that P(s₁) = 0.2, P(s₂) = 0.1, P(s₃) = 0.4 and P(s₄) = 0.3.

You have the following payoff table for a decision analysis problem. Payoffs are in units of thousands of dollars of profit. a. Which decision alternative would you choose using an optimistic approach? b. Which decision alternative would you choose using a conservative approach? c. Which decision alternative would you choose using the Minimax Regret approach? For parts d and e, assume that P(s1)=0.2,P(s1)=0.1, and P(s3)=0.4 and P(s4)=0.3. d. Which decision alternative would you choose using the EV approach? e. What would be the value of perfect information