Question: only numbers! Problem 850404: Do not include anything other than numbers in your responses. For example, do not include comma or dollar sign in your

only numbers!
only numbers! Problem 850404: Do not include anything other than numbers in

Problem 850404: Do not include anything other than numbers in your responses. For example, do not include comma or dollar sign in your numbers. As a rule of thumb, keep 2 decimal places for larger numbers and 3 decimal places for smaller numbers less than 1 . A small parts manufacturer has just engineered a new product for the automotive industry. In order to produce the part the company can expand existing facilities, acquire a competitor, or subcontract production. The company believes the product will either experience high market demand or low market demand. The company believes the product will either experience high market demand or low market demand, with probabilities of 0.5 and 0.5, respectively. The following payoff table describes the company's decision situation (all numbers are in thousands). Note that some numbers are negative. - What is the best decision based on optimistic approach? (Expand/Acquire/ Subcontract) - What is the best decision based on pessimistic approach? (Expand/Acquire/Subcontract) - What is the best decision based on equal likelihood approach? (Expand/Acquire/Subcontract) - Fill in the following blanks. Keep two decimal places for your calculations

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