Can you please solve it in excel like it is mentioned? This too with explanation of formulas used

III$||||||$ Background Information

$$ In a production operation of an electronics firm, a company manufactures I$/$O circuit chips that is used in a final assembly process. The chips, manufactured in batches sizes are either good $($G$)$ or defective $($B$).$

$0$ Historical data indicates that $P(G)=\mathrm{.}8$ and $P(B)=\mathrm{.}2$

$$ The company has the following options:

aSend the batch, $"$as is$,"$ onto the final production assembly

alt costs $$1,000$ to send good parts onto production and $$4,000$ to send bad parts to final production $($due to rework$)$

aRework all chips $($once reworked, all chips are good$)$

DIt cost $$2,000$ to rework chips

$\text{'}$II$||$I$|||$ Background Information

aThe company also has the option of performing inspection on a single chip in the batch to determine if it is defective or not defective

alt cost $$100$ to test a chip

aThe following relates to the test results

aOut come of the test is either defective chip $($D$)$ or not defective chip $($ND$)$

$P(\frac{D}{G})=\mathrm{.}1$ therefore. $P(N\frac{D}{G})=\mathrm{.}9$

$P(\frac{D}{B})=\mathrm{.}5$ therefore, $P(N\frac{D}{B})=\mathrm{.}5$

aDetermine the company's best decision strategy based on probability assessment and costs. Also Calculate EVSI, EVPI and Efficiency