Question: please answer the whole question without theory explanation , just answer it with numbers and calculations Q2. In an entrepreneur moment you came up with

please answer the whole question without theory explanation , just answer it with numbers and calculations
Q2. In an entrepreneur moment you came up with the idea to sell calculators to the incoming fall Bus 3510 class of 2020. During the summer you have found that you can purchase them from existing students for $14. The Business professor has agreed to purchase all the calculators for his class from you but at this time can only give you the probabilities but knows he will need at least 25 calculators, but maybe as many as 30. The professor is willing to pay $20.00 per calculator and book store will buy used calculators for $7.00. The probabilities as estimated by the professor are as follows: (TWO DECIMALS ONLY) 25 calculators.10 26 calculators.20 27 calculators.25 28 calculators.10 29 calculators.20 30 calculators.15 What is the expect value for each option? What is the EVPI? Based on the numbers which option would you select? SolutionStep by Step Solution
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