(Solved): I'm about to pay my tax bill. If I pay an accountant to review my taxes there's a 0.20 chance that l ...

I'm about to pay my tax bill. If I pay an accountant to review my taxes there's a 0.20 chance that l'll save \( \$ 4000 \). However the cost of hiring the accountant is \( \$ 1000 \). a. Draw up a table of rewards \( R(d, x) \) of the decisions (hire/don't hire), and outcomes (save or don't save). b. Calculate the expected return of the two decisions (hire/don't hire), and also the minimum and maximum returns of each decision. Add these returns in three additional columns to your table. c. Give the best decisions under the three decision rules: i. Maximum expected return ii. Maximin iii. Maximax