Video Business
A high school student,who started doing videos as a hobby,is considering going into the videography business.The anticipated payoff table is: 
The following prior probabilities are assigned to the states of nature: P(poor)= 0.4,P(fair)= 0.4,and P(super)= 0.2.
-{Video Business Narrative} Convert the payoff table to an opportunity loss table.
Definitions:
Bureaucracy
A system of management and administration characterized by hierarchical structure, defined roles and responsibilities, and a set of formal rules and procedures.
Rational Place
Refers to an environment or context in which decisions are made based on logical reasoning and empirical evidence.
Moral Place
A conceptual space or position that is accorded moral significance and ethical consideration within a society or community.
Social Facts
Durkheim's concept for societal norms, values, structures, and institutions that exert social control and influence individual behavior.
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