please answer all and use excel if applicable. Will thumbs up if done properly thank you

2. A clothing manufacturer is considering the following 4 options to handle the risk it faces with the following respective costs: Retention Expected cost of 500 Partial Insurance Expected cost of 750 . Deductible Insurance Expected cost of 900 . Full Insurance Expected cost of 1040 If the risk manager makes decisions by minimizing TOTAL COST, show what conditions on the WVs would make: A. Full insurance preferred to Partial Insurance? Show all work and explain the numerical answer. (3 points) B. Retention preferred to Deductible Insurance? Show all work and explain the numerical answer. (3 points) For ease of exposition call the WVs: WV. (retention) WV, (partial insurance) WV. (deductible insurance) WV (full insurance)