A DECISION PAYOFF MODEL West Mall Retail is considering the quantity of smartwatches (150, 200, or 250 units) to order and, hopefully, sell during the next holiday sale. They believe there will be low demand (100 units) for the smartwatch with 30% chance, moderate demand (150 units) with 50% chance, and high demand with (200 units) with 20% chance. West Mall buys each smartwatch at $240 and sells them for $400 each. Smartwatches not sold over the holidays are guaranteed to be sold off during post-holiday sale at $230 each. They decided to create a payoff model for generating gross profit as follows: Payoff = (price x minimum[order, demand}) - (order * cost) + post-holiday revenue (if any) Post-holiday revenue - (order. demand) post-holiday price For example, if they order 250 units and demand is 150 units, their gross profit will be ($400 x 150) - (250 x 240) + (250 - 150) $230 - $23,000 Note: Post-holiday revenue can be only realized if supply is greater than demand. a) Use the given information to complete the following payoff table. PAYOFF TABLE Demand = 100 units Demand = 150 units Demand = 200 units Order 150 units Order 200 units Order 250 units $23,000 b) What is the expected payoff of the optimal decision? Check