Mind Tip - Ceng CENGAGE | MINDTAP Q Sea nework-Assignment-3 Assignment: Homework Assignment-3 Assignment S Save Submit Assignment Questions Problem 04-18 Algo (Discrete Probability Distributions) Quest 1. Check My Work (3 2. The J.R. Ryland Computer Company is considering a plant expansion to enable the company to begin production of a new computer product. The company's president determine whether to make the expansion a medium- or large-scale project. Demand for the new product is uncertain, which for planning purposes may be low deman demand, or high demand. The probability estimates for demand are 0.20, 0.40, and 0.40, respectively. Letting x and y indicate the annual profit In thousands of dollar planners developed the following profit forecasts for the medium- and large-scale expansion projects. Medium-Scale Large-Scale Expansion Profit Expansion Profit X f(x) f( y ) Low 50 0.20 0 0.20 Demand Medium 150 0.40 100 0.40 High 200 0.40 300 0.40 (a) Compute the expected value for the profit associated with the two expansion alternatives. Round your answers to whole numbers, If needed. Expected Value Medium-Scale Large-Scale Which decision is preferred for the objective of maximizing the expected