A professional baseball team is concerned about attendance for the upcoming year. They must decide whether or not to implement a half-million dollar promotional campaign. If the team is a contender,...

A professional baseball team is concerned about attendance for the upcoming year. They must decide whether or not to implement a half-million dollar promotional campaign. If the team is a contender, they feel that $4 million in attendance revenues will be earned (regardless of whether or not the promotional campaign is implemented). Letting 6 denote the team's proportion of wins, they feel the team will be a contender if
   If 6 <>  million dollars with the promotional campaign. It is felt that 8 has a OU(O,1) distribution.

(a) Describe

(b) What is the Bayes action?

(c) What is the minimax nonrandomized action?