Problem 2: Decision Analysis (15 Points] The Operations Manager for a local bus company wants to decide whether he should purchase a small, medium, or large new bus for his company. He estimates that the annual profits (in $000) will vary depending upon whether passenger demand is low, medium, or high, as follows: Bus Demand Low Medium High Small 50 60 70 Medium 40 80 90 Large 20 50 120 Answer following questions (you can answer the entire question in excel if you prefer that): a) Write down the payoff matrix for the problem. What are the decisions under Maximax and Maximin criteria? b) Write down the regret matrix. What is the decision under minmax regret criteria? Operations Manager estimates that the probabilities of Low, Medium and High demand are 0.2, 0.4, and 0.4 respectively. c) What is the best decision under EMV criteria