should be submitted as MS word document. Parti- case study (3 cases - case 1 and 2 have 15 marks each case 3 has 10 marks - total 40 marks) 1. Case study on decision theory You are having a boutique selling latest designs of fashion according to season. Your marketing team has informed that there is a large market for ladies leather jackets. You have decided to try this product in Bahraini market but at low scale because you are not sure ladies will prefer leather jackets in moderate winter weather of Bahrain. Therefore you have decided to order leather jackets for winter season at the price of BD70 each. The jackets will be sold for BD100 each. Any jacket left over at the end of the winter season can be sold at BD50 each. There are three alternatives to decide which one is the best-buy 40, 60 or 80 jackets There are three possible states of nature - demand is 30, 50 or 70 facket. After deciding on each action and state of nature, calculate and create a payoff table as per format given below. This decision making will maximize your profit by avoiding access or shortage of stock. Alternatives State of nature Demand 40 Demand 60 Demand 80 900 Buy 30 1200 1200 Buy 50 300 1300 1800 Buy 70 -100 1900 900