Please solve part B only in Excel and show how the 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. 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