Problem A.9 Question Help 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 operations. She can choose among batch manufacturing or custom manufacturing, or she can invest in group technology. Zhu won't be able to forecast demand accurately until after she makes the process choice. Demand will be classified into four compartments poor, fair, good, and excellent. The table below indicates the payoffs (profits) associated with each process/demand combination, as well as the probabilities of each long-term demand level: Excellent Probability Batch Custom Group technology Poor 0.05 - $250,000 $200,000 $1,000,000 Demand Fair Good 0.45 0.25 $1,000,000 $1,400,000 $250,000 $650,000 - $500,000 $500,000 0.25 $1,300,000 $700,000 $2,200,000 a) The alternative that provides Zhu the greatest expected monetary value (EMV) is Batch The EMV for this decision is $ 1112500 (enter your answer as a whole number). (enter your answer as a b) The amount that Faye Zhu would be willing to pay for a forecast that would accurately determine the level of demand in the future = whole number)