Question: Can you please provide a step by step answer to attached questions( 25 and 26)of Waldo Books? Thank you for your help. 925 Waldo Books

Can you please provide a step by step answer to attached questions( 25 and 26)of Waldo Books? Thank you for your help.

Can you please provide a step by step answer to
925 Waldo Books needs to decide how many copies of a new} hardcover release to purchase for its shelves. The store has? assumed that demand will be 50. 100. [50, or 200 copies nearer}, month. and it needs to decide whether to order 50, 100. 150,-: or 200 books for this period. Each book costs Waldo $20 and} ' can be sold for $30. Waldo can sell arr}! unsold books back :9, ' the supplier for $4. (a) which option should Waldo choose if it uses th'f maximal: criterion? ' (b) Which option should Waldo choose if it uses the maximin critErion? (C) Which option should W'aldo choose if it uses the - equally likely criterion? (d) Which option should Waldo choose if it uses the criterion of realism mm at = 0.3"! (2} Which option should Waldo choose if it uses the minimax regret criterion? 9-2.6 After researching the market. Waldo Books (see Problem 9 25) has concluded that the probabilities of selling 50. 100. 150, and 200 books next month are 0.2, 0.35, 0.25, and 0.2. respectively. (3] Using EMVs. how man},r books should Waldo Order? (1:) Using EOL. how man}r books should Waldo order? in) Compute Waldo's EVWPI and EVPI

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