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Edwards Machine Tools needs to purchase a new machine. The basic model is slower but costs less, whereas the advanced model is faster but costs more. Profitability will depend on future demand. The following table presents an estimate of profits over the next three years. Fili in the table below for maximum and minimum profit payoffs under each model. Round your answers to the nearest doliar: Calculate the amounts foregone by not adopting the optimal course of action for each possible demand level. Determine the maximum opportunity cost for each model. Fill in the table below. If your answer is zero, enter " 0, Round your answers to the nearest dollar. Given the uncertainty associated with the demand volume, and no other information to work with, what decision would you make? The aggressive strategy (maximax) is to choose the. The conservative strategy (maximin) is to chpose the The epportunity loss strategy is to choose the Decition Anay,yis Eiter the data only in the vellow cells. Not for commercial use. This template is derigned to allow up to 5 dechlon altematives and future events. Inter rames of deckion altematives and future events in the appropriate celis in column A or X and row 7 . Probabilities are optional