Solve this question by using Microsoft Excel. please

. W Suppose that a decision maker faced with four decision alternatives and our states of nature deveIOps the following prot payo" table: State of Nature 32 13 Decision Alternative 1. If the decision maker knows nothing about the probabilities of the fours states of nature, What is the recommended decision using the optimistic, conservative, and minimax regret approaches? 2. Which approach do you prefer? Explain. Is establishing the most appropriate approach before analyzing the problem important for the decision maker? Explain. 3. Assume that the payoff table provides cost rather than prot payoffs. What is the recommended decision using the Optimistic, conservative, and minimax regret approaches