Question: A manager has compiled estimated profits for various capacity alternatives but is reluctant to assign probabilities to the states of nature. The payoff table is

A manager has compiled estimated profits for various capacity alternatives but

A manager has compiled estimated profits for various capacity alternatives but is reluctant to assign probabilities to the states of nature. The payoff table is as follows: *Profit in $ thousands. Click here for the Excel Data File a. Is there any alternative that would never be appropriate in terms of maximizing expected profit? Alternative A Alternative B Alternative C None b. For what range of P(2) would alternative A be the best choice if the goal is to maximize expected profit? c. For what range of P(1) would alternative A be the best choice if the goal is to maximize expected profit

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