A manufacturing company has $100,000 available to invest. Doctor Goodbuy, the president and CEO of the company, would like to either expand his production, invest the money in stocks, or purchase a certificate of deposit from the bank. Of course, the unknown is whether the economy will continue at a high level or there will be a recession. He estimates the likelihood of a recession at 20%. Whether there is a recession or not, the certificate of deposit will result in a gain of 6 percent. If there is a recession, he predicts a 10 percent loss if he expands production and a 5 percent loss if he invests in stock. If there is not a recession, an expansion of production will result in a 15 percent gain, and stock investment will produce a 12 percent gain (Use only the amount made or lost in the answers).1) Develop a payoff table for the various acts and states of nature.2) Compute the total expected payoff for each alternative.3) Construct an Opportunity Loss Table.4) What is the lowest total expected Opportunity Loss?5) What decision should Doctor Goodbuy make?6) What is the maximum amount that Doctor Goodbuy should pay to a consultant for financial advise for this scenario (in other words, what is the EVPI?)