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17:05 - AS100% 1 Table EX 3.9 Payoff: Revenues (in $millions) and Probability of FDA Approval Product Even Likely Unlikely Line Chance 250 140 [p = (20) (p = Alpha (p = 0.45] 0.20) 0.35) 280 Beta 155 [p = (25) [p = 0.35] 0.25] 0.40) 425 245 [p = (45) [p = 0.45] 0.20] Gamma (p = 0.35] 550 Delta [p = 0.25) 450 Kappa (p= 0.30) 300 (p = (60) [p- 0.40] 0.35] 275 [p = (18) [p = 0.25] 0.45) 1. Under an optimistic strategy, which two product lines would be selected for continued research and development? 16:56 G . 4 0.30] .100% . 1. Under an optimistic strategy, which two product lines would be selected for continued research and development? 2. Under a pessimistic strategy, which two product lines would be selected for continued research and development? 3. Using the minimax regret strategy, which two product lines would be selected for continued research and development? 4. Using the expected value model, which two product lines would be selected for continued research and development? 5. A research report was released that outlines serious concerns about the effectiveness of 3D printed Gamma drugs. This report is believed to change the probability of FDA approval for 3D printed Gamma drugs so that approval is now 15 percent likely, 45 percent even chance, and 40 percent unlikely. Use the expected value model to determine whether the product line selection changes given these new probabilities. 16:55 . Sill 100% 3.9 Cooper Pharmaceuticals, a specialty pharmaceutical company, has made significant investments to develop several product lines of 3D printed drugs. However, with patents on some of its most popular brand-name drugs expiring in the near future, the company is expecting a significant financial hit. As a result, the Finance Department has determined that only two of the five product lines under development can continue to be supported at this time. As part of this decision, Cooper Pharmaceuticals must consider the likelihood of approval from the U.S. Food and Drug Administration (FDA) for the 3D printing of each product for consumer use.Link to the excel sheet for table ex.3.9 is Table EX 3.9 a. It shows the potential revenues (in millions of dollars) for each of the alternative product lines and the likelihood of FDA approval. Table EX 3.9 Payoff: Revenues (in $millions) and Probability