Find the Expected Value of the Optimal Strategy $\$ 6000$ B) $\$ 13,000$

Multiple Choice

Find the expected value of the optimal strategy.
-A farmer must decide on which of two pieces of land to grow his crops. The first piece of land has better soil and will yield a larger harvest. However this piece of land is low lying and is coastal and his crops will be destroyed in the event of a storm and flooding. The second piece of land has poorer soil and will yield a smaller harvest but is at a higher elevation and would not be affected by flooding. He estimates that the payoff matrix is as follows:

Based on meteorological records from previous years, the farmer estimates the probability of flooding next year to be 0.15 . What is the farmer's expected profit if he picks the best strategy?

A) $\$ 6000$
B) $\$ 13,000$
C) $\$ 5850$
D) $\$ 10,500$