Probability Batch Custom Group technology Poor 0.15 - $300,000 $250,000 $1,200,000 Demand Fair Good 0.35 0.25 $1,000,000 $1,100,000 $300,000 $750,000 - $600,000 $500,000 Excellent 0.25 $1,300,000 $700,000 $2,000,000 Zhu Manufacturing is considering the introduction of a family of new products. Long-term demand for the product group is somewhat predictable, so the manufacturer must be concerned with the risk of choosing a process that is inappropriate. Faye Zhu is VP of oper group technology. Zhu won't be able to forecast demand accurately until after she makes the process choice. Demand will be classified into four associated with each process/demand combination, as well as the probabilities of each long-term demand level: Domand Poor Falr Good Probability 0.15 0.35 0.25 Batch $300,000 $1,000,000 $1,100,000 Custom $250,000 $300,000 $750,000 Group technology -$1,200,000 - $600,000 $500,000 a) The alternative that provides Zhu the greatest expected monetary value (EMV) is The EMV for this decision is (entor your answer as a whole number) b) The amount that Fayo Zhu would be willing to pay for a forecast that would accura Batch (enter yo and in the future = $ Custom Group technology Foduct group sinappropriate. Faye Zhu is VP of operations. She can choose among batch manufacturing or custom manufacturing, or she can invest in ce. Demand will be classified into four compartments: poor, fair, good, and excellent. The table below indicates the payoffs (profits) level: oor 0.15 300,000 50,000 200,000 Demand Fair Good 0.35 0.25 $1,000,000 $1,100,000 $300,000 $750,000 - $600,000 $500,000 Excellent 0.25 $1,300,000 $700,000 $2,000,000 mand in the future = $(enter your answer as a whole number) Slogy