Question: please help asap Subject: Operations Research 2 Topic: Decision Analysis please solve it manually, do not use chatgpt 2) Purefoods Philippines is going to introduce
2) Purefoods Philippines is going to introduce one of three new products: a kwek-kwek meal, an adobong balut meal, or a fried itik meal. The market conditions (favorable, stable, or unfavorable) will determine the profit or loss the company realizes. as shown in b) Determine ue vest uecision and the expected value, using EV Method. c) Determine best decision and the EOL perfect infow much the firm would be willing to pay a market research firm to gain better The Purefoods Philippines is still considering contracting with a market research firm to do a survey to determine future market conditions. The results of the survey will indicate either positive or negative market conditions. There is a 0.7 probability of a positive report, given favorable conditions; a 02 probability of a positive report, given stable conditions; and 0.1 probability of a positive report, given unfavorable conditions. Note: Answer in 2 decimal places for the joint probability and 3 decimal places for the posterior probability. a) Draw the revised decision tree b) Determine the decision strategy the company should follow. c) Determine the expected value of the strategy d) Determine the maximum amount the company should pay the market research firm for the survey results. e) Compute the efficiency of the sample information for Purefoods Philippines
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