RULE FOR ROUNDING OFF: You may present your solution using four decimal points, however, please use the complete value for computation purposes. Only the final answer would be rounded off in two decimal places.

With the complete solution, formula and explanation, please.

1. Bob plans to operate a poultry farm. He currently is deciding the capacity of this farm. Its size could either be for 100, 150 or 200 chickens. In terms of market forecasts, demand may be low, medium or high. The expected monthly income matrix for the capacities and market forecasts is as follows: Capacity Low Demand Medium Demand High Demand 100 chickens P85,000 P85,000 P85,000 150 chickens 40,000 130,000 130,000 200 chickens (25,000 75,000 175,000 Required: Strategy Decision Relevant Income of the Decision Maximin b Maximax C. Laplace e. f. Minimax Regret g. h. Expected Value (20:50:30 probabilities for Low: Medium: High) k. Assuming the same probabilities in i and j, how much should Bob be willing to pay for perfect information