please put excel functions used A company is developing a new cell phone and currently has two models under consideration. Historically, 70% of their new phones have had high consumer demand and 30% have had low consumer demand. The below table shows the investment cost and revenue per high and low demands for each model. Model 1 Model 2 Requires $200k investment Requires $175k investment If demand is high, revenue = $500k If demand is high, revenue = $450k If demand is low, revenue = $160k If demand is low, revenue = $160k Exercise 16.3. Answer the following questions in Excel with detailed work Review the previous slides and examples to guide you through. a. Draw a decision tree with payoffs and probabilities, and calculate Expected Monetary Value (EMV) for each model. Write down your decision based your tree analysis Use the payoff table to reason how you make the decisions with Aggressive / Conservative / Opportunity Loss Strategies c. Calculate the EVPI