1 2 3 TOTAL QUESTION POINTS SCORE 35 35 30 100 1. (35 p.) You are thinking about starting your ice cream shop. The problem is to decide how large your shop should be. The annual returns will depend on both the sire of your shop and a number of arketing factors related to the coffee market and demand for ice cream Develop the following profit value table by writing random values within the range 56value--500 (DO NOT COPY FROM INTERNET SOLVED EXAMPLES OR OLD EXAM QUESTIONS, WRITE YOUR OWN RANDOM VALUES. IT WILL BE CHECKED WITH THE OTHER STUDENT VALUES ALSO) El the profit value table. Size of shop Good Market (Lira) Fair Market (Lira) Poor Market (Lira) Small Medium Large For example, if you construct a small shop and the market is good, determine a profit value randomly within the range a) Develop a decision table for this decision and determine the best investment choice by applying the pow, maumin, equally likely Iwwer and minimax regret criteria. (Take a 0.70 for www.s) (10 p.) El the summary result table bdon. Summarize your solution (Mandators). Method Decision Profit Value/Regret Maximax Maximin Equally likely Hurwicz (a=0.70) Minimax regret b) Develop a decision tree (Draw). Assume each outcome is equally likely, then find the decision alternative that provides the highest Expected Monety Value (EMV). (15) c) Compute the expected value of perfect information (EVPD (10) EVP