Question: Please show in excel the way you solved ! A small parts manufacturer has just engineered a new product for the automotive industry. In order

Please show in excel the way you solved ! A small

Please show in excel the way you solved !

A small parts manufacturer has just engineered a new product for the automotive industry. In order to produce the part the company can expand existing facilities, acquire a competitor, or subcontract production. The company believes the product will either experience high market demand or low market demand, with probabilities of 0.6 and 0.4, respectively. The following payoff table describes the company's decision situation. States of Nature Decision High Demand Low Demand (0.6) (0.4) Expand Facilities $2,000,000 -1.250,000 Acquire Competitor 750,000 -500,000 Subcontract Production 250,000 25,000 Please solve for the best decision using expected value

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