Please answer question e-h only, Thanks.

The recent COVID 19 chaos in Hong Kong has triggered Mr. K. Kwong, an entrepreneur, to consider investing in a local surgical mask manufacturing plant. Mr. K. Kwong's problem is to decide how large his plant should be. The annual returns will depend on both the size of his plant and a number of marketing factors related to the health situation of the Hong Kong society. After a careful analysis, Mr. K. Kwong developed the following payoff table: Size of plant Good market ($) Fair market ($) Poor market ($) Small 100,000 30,000 - 10,000 Medium 150,000 50,000 -30,000 Large 200,000 50,000 -70,000 Very Large 300,000 30,000 -200,000 For example, if Mr. K. Kwong constructs a small plant and the market is good, he will realize a profit of $100,000 "Remarks: No need to include the "Do Nothing" option in decision table and decision tree and round all the number to nearest integer a) Develop a decision table. (4 marks) b) What is the maximax decision? (1 mark) c) What is the maximin decision? (1 mark) d) What is the equally likely decision? (1 mark) e) Assume each outcome is equally likely, 1. Develop a decision tree with the expected monetary value (EMV) (5 marks) 2. Calculate the expected value of perfect information (EVPI) (3 marks) 3. Help Mr. K. Kwong to write a short note (40 to 50 words) to convince the Board of Directors to buy the perfect information that is available at $30,000 (5 marks) +) Mr.K. Kwong set up the plant finally after a few months. He starts the production line and wants a better understand its capability. Last week the plant produced 120,000 pieces of mask and the effective capacity is 130,000 pieces. The production line operates 6 days per week, with two 8-hours shifts per day. The line was designed to process the mask at a rate of 1,500 pieces per hour Determine the design capacity, utilization and efficiency for this plant when producing masks. (3 marks) Assume each outcome is equally likely, 1. Develop a decision tree with the expected monetary value (EMV) (5 marks) 2. Calculate the expected value of perfect information (EVPD) (3 marks) 3. Help Mr. K. Kwong to write a short note (40 to 50 words) to convince the Board of Directors to buy the perfect information that is available at $30,000 (5 marks) +) Mr. K. Kwong set up the plant finally after a few months. He starts the production line and wants a better understand its capability. Last week the plant produced 120,000 pieces of mask and the effective capacity is 130,000 pieces. The production line operates 6 days per week, with two 8-hours shifts per day. The line was designed to process the mask at a rate of 1,500 pieces per hour. Determine the design capacity, utilization and officiency for this plant when producing masks (3 marks) 9) Later on, Mr. K. Kwong wants to increase production volume of masks due to a fifth wave of COVID 19 infections. To meet this sudden demand, he will be adding another production line. The second line has the same design capacity and the same effective capacity (130,000 pieces) as the first line. However, new staffs will be operating the second line. Quality problems such as damage of ear strap are expected to reduce output on the second line to 100,000 pieces (compared to 120,000 pieces on the first). Determine the new utilization and efficiency for the masks production after adding the second line. (3 marks) h) The fifth wave of COVID 19 infections is going worse than expected, Mr. K. Kwong can see that there is an increasing demand. However, demand growth is usually in small units, while capacity additions are likely to be both instantaneous and in large units. There is a capacity decision risk and Mr. K. Kwong would like to go with incremental changes that hedge the demand. Suggest your own approach for capacity expansion with one advantage and one disadvantage of your approach (4 marks)