Brandon Mackinnon is considering 3 investment options for his $10,000 savings from working as a professor at Algoma University. He has three different stocks which he can invest his money, Tesla, CIBC & Walmart. He wishes to invest his savings for one year, after which he will use his money to buy a Car. His return after one year will depend on the performance of the economy, which can be strong, average or weak. The returns for each possible combination are shown in the table below. PAYOFFS Alternatives Tesla CIBC Walmart Below are the Outcomes Strong Economy $1.200 $700 $400 Average Economy $600 S400 S300 Weak Economy -$1,000 S100 S200 Assume Brandon will choose only one stock for each question below. A. Which stock should Brandon invest his money in if he uses the Maximax Criterion? B. Which stock should Brandon invest his money in if he uses the Maximin Criterion? C. Which stock should Brandon invest his money in if he uses the Equally Likely Criterion? D. Which stock should Brandon invest his money in if he uses the Criterion of Realism with a q-0.5? E. Which stock should Brandon invest his money in if he uses the Minimax regret criterion? Question 1 Continued: After teaching Statistics, Brandon remembered all the various economic topics that will allow him to help predict how the economy will be in the upcoming year. He has assigned the probability that the economy will be strong this year as 0.2, as average as 0.35, and as weak 0.45. F. Using Expected Monetary Value (EMV), what stock should Brandon choose? G. Using Expected Opportunity Loss (EOL), what stock should Brandon invest his money in? Professor Brandon has been approached by one of his colleagues, Professor Eddie who also teaches Finance, and has offered to Brandon to do some additional research to help him with his decision of what stock he should invest his money in. Professor Eddie would charge $300 for this research. H. Should Professor Brandon hire Professor Eddie to do this additional research? If so, explain why. If not, what is the most Brandon should pay Professor Eddie for this additional research.