A concessionaire for the local ballpark has developed a table of conditional values for the various alternatives (stocking decision)and states of nature (size of crowd). 
If the probabilities associated with the states of nature are 0.30 for a large crowd,0.50 for an average crowd,and 0.20 for a small crowd,determine:
(a)the opportunity loss table.
(b)minimum expected opportunity loss (EOL).
Definitions:
Capitalize Interest
The process of adding the interest accrued on a loan to the principal balance of that loan, effectively increasing the total amount owed.
Finance Charges
Fees and interest charged on borrowed money, typically associated with loans, credit cards, and financed purchases.
Credit Card Company
A financial institution that issues credit cards, allowing cardholders to purchase goods and services on credit.
Installment Plan
A method of payment of a purchase or services over a period of time.
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