Bob could also have Celestial Cellular (CC) develop the cell phones. Thus, another option was to have CC make the phones and have PP do the rest of the production and distribution. Because the cell phone was the most expensive component helmet, Bob could lose $30,000 in a poor market. He could lose $20,000 in an average market. If the market was good or excellent, Bob would see a net profit of $10,000 or $30,000, respectively. Bob's final option was to forget about PP entirely. He could use LB to make the helmets, CC to make the phones, and TR to make the AM/FM stereo radios. Bob could then hire some friends to assemble everything and market the finished Ski Right helmets. With this final alternative, Bob could realize a net profit of $55,000 in an excellent market. Even if the market were just good, Bob would net $20,000. An average market, however, would mean a loss of $35,000. If the market was poor, Bob would lose $60,000. Questions: 1. What do you recommend? 2. What is the opportunity loss for this problem? 3. Compute the expected value of perfect information (EVPD). 4. Was Bob completely logical in how he approached this decision problem? Why