a) Expected value for the Add Assembly Line option = ?

Part 3

Expected value for the Build New Plant option = ?

Part 4

The alternative that provides Weiss the greatest expected monetary value (EMV

LOADING... ?

.

Part 5

The value of the return under this decision is ?

The expected value of perfect information (EVPI

LOADING...) for Weiss = ?

Howard Weiss, Inc., is considering building a sensitive new radiation scanning device. His managers believe that there is a probability of 0.45 that the ATR Co. will come out with a competitive product. If Weiss adds an assembly line for the product and ATR Co. does not follow with a competitive product, Weiss's expected profit is $40,000; if Weiss adds an assembly line and ATR follows suit, Weiss still expects $10,000 profit. If Weiss adds a new plant addition and ATR does not produce a competitive product, Weiss expects a profit of $600,000; if ATR does compete for this market, Weiss expects a loss of $100,000. a) Expected value for the Add Assembly Line option = $(enter your answer as a whole number)