Please explain the answer step by step. Thank you.

Edward recently graduated from college and plans to do his business. To open the business he needs a team specialized in printing. There are different teams and you have to decide which is the best decision. The alternatives are in the following table.

Table:

I. Calculate the different decisions under uncertainty. Make the Maximax, Maximin, Hurcwicz, La Place and Minimax tables. Tables must be made individually.

1. They will use .60 as the coefficient of realism.

II. Using the same data from Table 1. Solve under low-risk decisions

1. Calculate the Expected Monetary Value. The favorable market probability is .60. The unfavorable market probability is .40.

2. Calculate the Expected Value of the perfect information (EVPI)

3. Calculate the Expected Value with the perfect information (EVwPI)

4. Calculate the Expected Opportunity Loss (EOL)

VAAAAAAAAAAAAA AAAAA Printing equipment Xerox HP Epson Favorable Market 280000 190000 92000 Unfavorable Market -220000 -150000 -25000 VAAAAAAAAAAAAA AAAAA Printing equipment Xerox HP Epson Favorable Market 280000 190000 92000 Unfavorable Market -220000 -150000 -25000