Edwards Machine Tools needs to purchase a new machine, The basic model is slower but coits less, whereas the advanced model is faster but costs more, Profitabity iwit depend on future demand. The following table presents an estimate of profis over the neat three years. in the toble below for maximum and minimum profit pyyofts under esch model, Round your answers to the nearest dollar. Calculate the amounts foregone by not odopting the eptemal course of action for eoch posvible dermand level. Determine the maximum opportunity cost for each model. fill in the table below. If your answer is zero, enter "0". Round your answers to the nearest dellar.. Given the uncertainty assodated with the demacd volume, and no other information to work with, what decison would you make? The agoressive strotegy (imaximas) is to choose the The conservativestrategr (maximin) is to cheose the The epportunity loss strategr is to choose the 1 Decision Analysis Enter the data only in the yellow cells. This template is designed to allow up to 5 decision altematives and future events. Enter names of decision alternatives and future events in the appropriate cells in column A or K and row 7. Probabillities are optional. of time requires to implement the sytem, which depends an such factors as the amount of customication requined, integration with legacy systernt, ressance to chariot, and se on. Fach vendor has different eapertise in handing these things; which affect the cost. The costs (in mithons of $ ) are shown below for shart, medum, and long implementacion durabions, Use the Excei template Decision Avalysis to isentify what vends to select. Filt is the table below for mavimum and minimum costs under each wternative. Cary cut ph analysis condidering casts as negotive numbers. round your answers to the neorkst cent. in the tabie boow. thour answer is zere, enter " 0 ". Round your answers to the nescest ce-t. Canduse a dedsigr analysis to evaluate the chuice of a vendor. The aggressive strategy (maximax) is to choose the The conservacve strategr (maximin) is to chese the The ofporanty bas strategy is to chonse the