. Ehe quick and easy viewing right in Microsoft Edge. Choose Download file if you want to use it later. Download file \begin{tabular}{|l|r|r|r|r|r|} \hline Opportunity Loss Matrix & \multicolumn{1}{|l|}{ Future Events } & & & \\ \hline Decision Alternative & Low Product Demand & High Product Demand & & & Maximum \\ \hline Expand existing plant & $0.00 & $150,000.00 & & $150,000.00 \\ \hline Build new plant & $100,000.00 & $0.00 & & & \\ \hline & & & & & \\ \hline \end{tabular} D Decision Analysis Warkbook Statistics 59F Sunny We've opened your file for quick and easy viewing right in Microsoft Edge. Choose Download file if you want to use it later. Download file \begin{tabular}{|l|l|} \hline Maximax Decision & Build new plant \\ \hline Maximin Decision & Expand existing plant \\ \hline Opportunity Loss Decision & Build new plant \\ \hline Expected Value Decision & \\ \hline EVPI \#N/A \\ \hline \end{tabular} Decision Analysis Workbook Statistics 59F Sunny Homework: Technology and Operations Management Edwards Machine Tools needs to purchase a new machine. The basic model is slower but costs less, whereas the advanced model is faste but costs more. Profitability will depend on future demand. The following table presents an estimate of profits over the next three years. Fill in the table below for maximum and minimum profit payoffs under each model. Round your answers to the nearest dollar. Calculate the amounts foregone by not adopting the optimal course of action for each possible demand 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 dollar. Given the uncertainty associated with the demand volume, and no other information to work with, what decision would you make? The aggressive strategy (maximax) is to choose the The conservative strategy (maximin) is to choose the The opportunity loss strategy is to choose the