Question: Please do all the probems. A and B are incorrect. Leah Johnson, director of Urgent Care of Brookline, wants to increase capacity to provide low-cost

Please do all the probems. A and B are incorrect.Please do all the probems. A and B are incorrect.Please do all the probems. A and B are incorrect.

Please do all the probems. A and B are incorrect.

Leah Johnson, director of Urgent Care of Brookline, wants to increase capacity to provide low-cost flu shots but must decide whether to do so by hiring another full-time nurse or by using part-time nurses. The table below shows the expected costs of the two options for three possible demand levels: Figure 1 L (0.25) $280 Hire full-time M (0.50) $520 $500 -$680 H (0.25) Alternatives Hire full-time Hire part-time Probabilities States of Nature (demand) Low Medium High $280 $520 $680 $0 $360 $1,000 0.25 0.50 0.25 L (0.257 $0 $500 M (0.50)$360 10.25) $430 $1,000 Hire part - time L = Low, M = Medium, H = High a) The alternative with the least expected cost is Figure 2 L (0.25) $280 Hire full-time M (0.50) $520 $680 $680 H (0.25) $0 L (0.251 $1,000 M (0.50)$360 +0.25)$1,000 $1,000 Hire part - time Figure 3 L (0.25) $280 Hire full-time M (0.50) $520 $500 $680 H (0.25) L (0.257 $0 430 M (0.50)$360 10.25), $430 $1,000 Hire part time L = Low, M = Medium, H = High a) The alternative with the least expected cost is Hire part-time. The expected cost of this alternative is $ 520 (enter your answer as a whole number). b) The appropriate decision tree for Leah Johnson is presented in Figure 1

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