Please answer the question 13-25 based on the information given below. Thank you.

Problem 13-25 (Algorithmic) The Gorman Manufacturing Company must decide whether to manufacture a component part at its Milan, Michigan, plant or purchase the component part from a supplier. The resulting profit is dependent upon the demand for the product. The following payoff table shows the projected profit (in thousands of dollars): State of Nature Low Demand Medium Demand High Demand Decision Alternative 51 Manufacture, di -40 60 120 Purchase, d2 20 The state-of-nature probabilities are Pisi) - 0.30, PS2) - 0.35, and Ps3) = 0.35. a. Use a decision tree to recommend a decision. Recommended decision: b. Use EVPI to determine whether Garman should attempt to abtain a better estimate of demand. Round your answer to two decimal places. Enter your answer in thousands of dollars. EVPL - $ thousands. C. A test market study of the potential demand for the product is expected to report either a favorable (F) or unfavorable (u) condition. The relevant conditional probabilities are as follows: PF 51) - 0.70 RXU | S1) - 0.30 PF 52) - 0.30 PU 52) - 0.70 PF 53) = 0.60 PU 53) = 0.40 What is the probability that the market research report will be favorable? If required, round your answer to three decimal places. P(F) = d. What is Gorman's optimal decision strategy? Round your answer to two decimal places. Enter your answer in thousands of dollars. Decision strategy: IF F then - if u then - Expected value = $ thousands. e. What is the expected value of the market research information? Round your answer to two decimal places. Enter your answer in thousands of dollars. Expected value - $ thousands f. What is the efficiency of the information? If required, round your answer to one decimal place. Efficiency - 4