Question: Can you please help me solving problem 25 by hand. I upload problem 12 for reference. 25. A global economist hired by Microcomp, the U.S.-based
Can you please help me solving problem 25 by hand. I upload problem 12 for reference.



25. A global economist hired by Microcomp, the U.S.-based computer manufacturer in Problem 129, estimates that the probability that the economic and political climate overseas and in Mexico will decline during the next 5 years is .40, the probability that it will remain approximately the same is .50, and the probability that it will improve is .10. Determine the best country to construct the new facility in and the expected value of perfect information. 12. Microcomp is a U.S.-based manufacturer of personal computers. It is planning to build a new manufacturing and distribution facility in either South Korea, China, Taiwan, the Philippines, or Mexico. It will take approximately 5 years to build the necessary infrastructure (e.g., roads), construct the new facility, and put it into operation. The eventual cost of the facility will differ between countries and will even vary within countries depending on the financial, labor, and political climate, including monetary exchange rates. The company has estimated the facility cost (in $1,000,000s) in each country under three different future economic and political climates, as follows: Country Economic/Political Climate Decline Same Improve South Korea 21.7 19.1 15.2 China 19.0 18.5 17.6 Taiwan 19.2 17.1 14.9 Philippines 22.5 16.8 13.8 Mexico 25.0 21.2 12.5 - The eventual cost of the facility will differ between countrie + will even vary within countries depending on the financial, labor, and political climate, including monetary exchange rates. The company has estimated the facility cost (in $1,000,000s) in each country under three different future economic and political climates, as follows: Country Economic/Political Climate Decline Same Improve South Korea 21.7 19.1 15.2 China 19.0 18.5 17.6 Taiwan 19.2 17.1 14.9 Philippines 22.5 16.8 13.8 Mexico 25.0 21.2 12.5 Determine the best decision, using the following decision criteria. a. Minimin b. Minimax c. Hurwicz (a = .4) d. Equal likelihood