Answer Happy

The next 4 questions refer to the following situation:
In the provided blank, insert the letter that
corresponds to the correct answer. For example, if the correct
answer is "a) 1.990 ", insert only "a" as the correct
answer.
Maxwell Manufacturing Inc. must decide whether to produce a
component part at its plant or buy the component part from a
supplier. The resulting profit of the product critically depends of
the future demand for the product. The probabilities of the future
events are P(Low) =
0.36, P(Medium) = 0.34,
and P(High) = 0.30
The profit payoff values (in thousands of dollars) are given in
following payoff table (image below):
Maxwell Manufacturing Inc. must decide whether to produce a component part at its plant or buy the component part from a supplier. The resulting proñt of the product critically depends of the future demand for the product. The probabilities of the future events are P(Low) = 0.36, (Medium) = 0.34, and P(High) = 0.30 The profit payoff values (in thousands of dollars) are given in following payoff table: Important. Always use two decimal places in your calculations Low E1 -20 10 Medium E2 40 45 High E3 100 70 Produce Buy d1 d2 1. Compute the maximum expected monetary value and the expected value of perfect information. The letter associated with the correct answer is a) 39.9 and 9 respectively b) 51.6 and respectively. c) 57.6 and 18.4 respectively. d) 76.2 and 15.8 respectively. e) None of the above A market research study of the future demand for the product is expected to be either a favorable (F) or Unfavorable (u) condition. The associate conditional probabilities are given below: A u P(F/E1) = 0.10 P/F/E2) = 0.40 P(F/E3) = 0.60 P(U/E1) = 0.90 P(U/E2) = 0.60 P(U/E3) = 0.40 II. What is the probability that the demand is low if the market research report is unfavorable? The letter associated with the correct answer is a) 0.11 b) 0.19 c) 0.31 d) 0.50 e) None of the above III. What is the expect value of the market research information? The letter associated with the correct answer is a 2.06 b) 3.56 c) 43.46 d) 53.66 e None of the above IV. What is the efficiency of the market research information (in percentage)? The letter associated with the correct answer is a) 2396 b) 3396 c) 40% d) 4496 e) None of the above e