Please answer in Excel and show which formulas were inputted.

a. Given below is the payoff for three decision alternatives, d1,d2&d3 under three staes of nature, $1,S2,&S3 with probabilities of 0.3,0.3 \& 0.4 respectively. What decison should be made based on the EMV criterion? You must show your working. (15 points) b. For a lottery having a payoff of 300,000 with a probability p and $50 with a probability of (1-p), two decision makers expressed the following indifference probabilies Find the most preferred decision for each decision maker using the expected utility approach. Is there a difference in the decision of the two decision makers. If yes, what can you say about the two decision makers