Question: ***CAN YOU PLEASE SHOW STEP-BY-STEP IN AN EXCEL SPREADSHEET and show the Excel formulas , THANK YOU :)*** XPRO Manufacturing is considering the introduction of

***CAN YOU PLEASE SHOW STEP-BY-STEP IN AN EXCEL SPREADSHEET and show the Excel formulas, THANK YOU :)***

XPRO Manufacturing is considering the introduction of a family of new products. John Avalon, the VP of Operations considering three different production processes (batch manufacturing, custom manufacturing, and group technology. The demand and profit depends on the state of economy as provided in table below.

Production Process

Poor Economy

Fair Economy

Good Economy

Excellent Economy

Batch

-$25.0 million

$60m

$155m

$200m

Custom

$12m

$22m

$60m

$100m

Group Technology

-$100m

-$60m

$40m

$150m

Probability

0.10

0.20

0.40

0.30

a ) Find the Maximax, Maximin, equally likely, and Expected value decisions with respective profits. Must show all work and calculations in tabular Excel format.

b) Find the Minimax regret decision and profit. Use Tabular Excel format.

C) Based on above analysis, what is your recommendations to John Avalon?

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