only do question b and c please

The Dynamax Company is going to introduce one of three new products: a widget, a hummer, or a nimnot. The mar- ket conditions (favorable, stable, or unfavorable) will de- termine the profit or loss the company realizes, as shown in the following payoff table. Product Widget Hummer Nimnot Favorable 0.2 $160,000 70,000 45,000 Market Conditions Stable Unfavorable 0.5 0.3 $90,000 $50,000 40.000 20,000 35,000 30.000 a. Compute the expected value for each decision and select the best one. b. Determine how much the firm would be willing to pay to a market research firm to gain better information about future market conditions. c. Assume that probabilities cannot be assigned to future market conditions, and determine the best decision using the maximax, maximin, minimax regret, and equal likeli- hood criteria