4-3

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4-3.xlsx
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9.31a&b

Do Well in ST 75% 100% 125%
($millions) Low Base High
Run in ST Payoff if Do Well in ST 16
Loss if Do Poorly in ST 10
Do Poorly in ST Expected Payoff 0
Do Well in NH
1
Don't Run in ST
Run in NH
Do Well in ST
Run in ST
Do Poorly in ST
Do Poorly in NH
1
1 Don't Run in ST
0
Do Well in ST
Run in ST
ERROR:#N/A
Do Poorly in ST
Don't Run in NH
ERROR:#N/A
Don't Run in ST