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:
Security Market Line
A line that represents the relationship between the expected return of a security and its systematic risk, illustrating the risk-return trade-off in the capital asset pricing model (CAPM).
Portfolio Weight
The proportion of a specific asset within an investment portfolio relative to the total asset value of the portfolio.
Beta
A measure of a stock's volatility in comparison to the overall market, indicating its relative risk.
Economic Probabilities
The likelihood of various economic outcomes occurring, based on assumptions about market and economic conditions.
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