Now, let's consider two demand situations - one that is similar to the current situation with a demand of 90,000 loaves per year and one that is optimistic with a demand of 100,000 loaves per year. Customers pay $1 for a loaf of bread. (a) (6 points) Keeping in mind that profit is equal to the total revenue minus the total costs, let's examine what the profit/loss would be in two different demand scenarios. Please fill the profit/loss for each scenario in the table below. (HINT: One oven can only serve a maximum of 91,250 loaves of bread in a year regardless of the demand.) 90,000 loaves demanded One Oven Two Ovens 100,000 loaves demanded (b) (8 points) Draw a decision tree depicting all of the options and outcomes for this problem. Make sure that the alternatives, states of nature, and pay offs are clearly labeled. Assume that there is a 0.8 chance that the demand stays at 90,000 loaves per year (steady demand) and a 0.2 chance that the demand goes up to 100,000 (higher demand). (c) (2 points) Calculate the EMV for the two options in this problem. (d) (1.5 points) Given your EMV analysis, what should Wooden Bakery do? What additional considerations should they take into account? (e) (1.5 points) Calculate the EVPI and state what it means.