Main Post: For this POST , you will be asked to compose an essay to address the following questions:

MAKEA scenario in which your business needs to make a decision.

Identify at least three alternatives and three states of nature for the decision.

MAKE a decision table in Excel that includes:

• the alternatives
• the states of nature
• the potential payoff/losses for each alternative
• Note: These fictitious amounts should be based on any information you feel is pertinent in your business decision-making.Include the payoff table in the essay and as an attachment to the Discussion Board.Choose one of the three decision strategies:
  • Optimistic
  • Pessimistic
  • Criterion of realismFor the decision strategy chosen above:
  • List the best payoff.
  • List the alternative to use based upon the payoff.
  • State why the decision strategy was chosen.Indicate your final decision.