1. Refer to the spice problem above.This is a maximization problem.

TRUE OR FALSE?

2. Refer to the spice problem above. The EV for the Himalayas as a source is 0.995.

TRUE OR FALSE?

3. Refer to the spice problem above. Bhutan is the best option for the company.

TRUE OR FALSE?

4. Refer to the spice problem above. The company should not consider getting their spices from India because it is the cheapest.

TRUE OR FALSE?

A spice company has three sources for buying cardamom for their line of products: Himalayas, India, or Bhutan. Unfortunately, the spice is cultivated from a plant whose annual growth is heavily dependent upon the amount of rainfall during the growing season. The tables below show probabilities and prices for wet, dry and normal growing seasons. PROBABILITIES Wet Dry Normal Himalayas 0.5 0.2 0.3 India 0.1 Bhutan 0.4 0.2 Price per Pound ($) Wet Dry Normal Himalayas 0.95 1.10 1.00 India 0.85 1.20 0.98 Bhutan 0.90 1.15 1.05 Based on this information, answer the questions that follow