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2. 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 weather winter 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 jacket. 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. State of nature Alternatives Demand 30 Demand So Demand 70 Buy 40 Buy 60 Buy 80 Solution (2 - Case study on decision theory)