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!!

The following payoff table provides profits based on various possible decision alternatives and various levels of demand at Robert Klassan's print shop: Decision Alternative 1 Alternative 2 Alternative 3 Demand Low High $12,000 $24,000 $5,000 $38,000 - $2,500 $50,000 The probability of low demand is 0.45, whereas the probability of high demand is 0.55. a) The alternative that provides Robert the greatest expected monetary value (EMV) is Alternative 2 Alternative 3 Alternative 1 Consider the following decision table, which Joe Blackburn has developed for Vanderbilt Enterprises: Decision Alternatives Probability: A States of Nature 0.15 Medium $120 $60 $70 $75 $75 0.35 Low $40 $80 $60 $70 $75 B 0.50 High $55 $70 $70 $70 $85 C D E The alternative that provides Blackburn the greatest expected monetary value (EMV) is A B D E Deborah Hollwager, a concessionaire for the Amway Center in Orlando, has developed a table of conditional values for the various alternatives (stocking decision) and states of nature (size of crowd): Alternatives Large Inventory Average Inventory Small Inventory States of Nature (size of crowd) Large Average Small $24,000 $8,000 - $2,000 $15,000 $12,000 $4,000 $8,000 $4,000 $5,000 Probabilities associated with the states of nature are 0.30 for a large crowd, 0.45 for an average crowd, and 0.25 for a small crowd. a) The alternative that provides Deborah the greatest expected monetary value (EMV) is Large Inventory Small Inventory Average Inventory