The Wildcat Auto Corp. is considering if it should introduce a new vehicle to its 2019 market ...

      The Wildcat Auto Corp. is considering if it should introduce a   new vehicle to its 2019 market. There are two possible new vehicles, a luxury   sedan and a pickup truck, as considered candidates. The company will only   consider at most one new vehicle be introduced in 2019. The payoff outcomes   depending upon the 2019 automobile market are shown in the following table.   The 2019 market is reported to have even chances between being favorable and   unfavorable.         Favorable 2019 Market    Unfavorable 2019 Market      Alternative              Introduce a   luxury sedan   $200,000   -$180,000   Introduce a   pickup truck   $100,000   -$20,000   Introduce no   new vehicles    $0   $0       (Question   2-1) Create a regret table for the Wildcat Auto Corp. and report your   recommended decision based upon the minimax regret approach.   (Question   2-2) Compared the expected values and report your recommended decision based   upon the expected value outcomes.   (Question   2-3) If a marketing firm can offer perfect information to help Wildcat Auto   Corp. make decisions. What is the expected value with perfect information?   (Question   2-4) If this marketing firm will charge Wildcat Auto Corp. $70,000 for the   perfect information service, should Wildcat Auto Corp. hire this marketing   firm for its service? Explain why or why not.