Question 2: Jake has three possible decision alternatives under consideration: A1,A2, and A3. The possible states of nature in each case are S1 and S2. Part a) Use Bayes' decision rule to determine which alternative should be chosen. Part b) Find EVPI. Part c) There are an opportunity to spend 30 to do a survey and obtain more information about which state of nature is likely to occur. Survey results are 95 percent reliable. Part d) Given his utility function and risk preferences listed in the table below, build its related decision tree and find the best alternative considering Jake's preferences. Part e) Find the optimal policy regarding whether to conduct the survey or not (Hint: Reliability means P( State =Si Survey =Si)=0.95 for both states )