Question: Please create a Regret table based off data: The owner of a small specialty food store stocks specially aged steak. In the past 100 weeks,

Please create a Regret table based off data:

The owner of a small specialty food store stocks specially aged steak. In the past 100 weeks, the store has experienced the following weekly demand for this steak (in pounds):

Weekly Demand

(pounds)

Frequency

(weeks)

15

25

35

55

10

30

50

10

The owner buys the meat from his supplier for $2.10 per pound and sells the steak for $5.00 per pound. All that is left unsold at the end of the week is sold at discount to the county animal shelter at $0.50 per pound.

The food store owner wants to know how many pounds of steak to consistently order per week.

Playoff Table (Already done):

Please create a Regret table based off data: The

Need help making a regret table. Already done with payoff table. Also please check if the payoff table is correct

Selling price: Cost: Discount: $ $ $ 5.00 2.10 0.50 15 25 Demand (lbs) Probability 35 50% 55 10% 10% 30% Payoff Table: Order Quantity Expected Profit/Loss 15 $ 43.50 $ 43.50 $ 43.50 $ 43.50 $ 43.50 25 $ 27.50 $ 72.50 $ 72.50 $ 72.50 $ 68.00 35 $ 11.50 $ 56.50 $ 101.50 $ 101.50 $ 79.00 55 $ (20.50) $ 24.50 $ 69.50 $ 159.50 $ 56.00

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