Problem 55-17 (Algo) A manager has compiled estimated costs for various capacity alternatives but is reluctant to assign probabilities to the state Assuming the values in the payoff table are estimated costs and the goal is to minimize expected costs. STATE OF NATURE #2 150 Alternative A B #1 $ 25* 120 100 86 59 *Cost in $ thousands. a. Is there any alternative that would never be appropriate in terms of minimizing expected cost? Alternative A Alternative B Alternative C None b. For what range of P (2) would alternative A be the best choice if the goal is to minimize expected cost? Choose Alternative A for P(#2) c. For what range of P(1) would alternative A be the best choice if the goal is to minimize expected cost? Choose Alternative A for P(#1)