Question: PLEASE HELP ME WITH THIS PROBLEM. PLEASE SHOW ALL STEPS ON HOW TO GET TO THE ANSWER. SHOW ALL WORK, I DON'T UNDERSTAND IT. THANK

PLEASE HELP ME WITH THIS PROBLEM. PLEASE SHOW ALL STEPS ON HOW TO GET TO THE ANSWER. SHOW ALL WORK, I DON'T UNDERSTAND IT. THANK YOU!!

Show all steps of how to get each number and percent. If you use excel, then please show the breakdown of the formula used. THANK YOU!!

Please help me with Part C the value of return under this decision:

PLEASE HELP ME WITH THIS PROBLEM. PLEASE SHOW ALL

Even though independent gasoline stations have been having a difficult time, lan Langella has been thinking about starting his own independent gasoline station. Ian's problem is to decide how large his station should be. The annual returns will depend on both the size of his station and a number of marketing factors related to the oil industry and demand for gasoline. After a careful analysis, lan developed the following table: Size of First Station Small Medium Large Very Large States of Nature Good Market Fair Market $60,000 $21,000 $70,000 $32,000 $95,000 $32,500 $280,000 $24,000 Poor Market - $12,000 - $18,000 - $42,000 - $150,000 For example, if lan constructs a small station and the market is good, he will realize a profit of $60,000. This exercise contains only parts b, c, and d. b) Using the decision making under uncertainty with the criterion of Maximax The appropriate decision will be Very Large The value of the return under this decision is $ 280000 . c) Using the decision making under uncertainty with the criterion of Maximin The appropriate decision will be Small The value of the return under this decision is $ 12000

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