Exhibit 14.9 The Following Questions Are Based on the Information Below

Short Answer

Exhibit 14.9
The following questions are based on the information below.
An investor is considering 4 investments, W, X, Y, and Z. The payoff from each investment is a function of the economic climate over the next 2 years. The economy can expand or decline. The following payoff matrix has been developed for the investment decision problem.

-Refer to Exhibit 14.9. The original payoff data is in the worksheet called "Payoffs". What formula should go in cell B5 of this Regret Matrix to compute the regret value?