Question 22 (25 points) The operations manager for a local bus company wants to decide whether he should purchase a small, medium, or large new bus for his company. He estimates that the annual profits (in $000) will vary depending upon whether passenger demand is low, medium, or high, as follows: Profit Small Medium Large Demand Low Medium High 60 90 100 40 100 120 -1080 140 Page 7 Demand Regret Low Medium High Small 0 10 A Medium 20 0 20 Large B 20 Complete the regret table. (Type in the numbers only.) (5 points each) Small 0 10 Medium 200 Large B 20 A 20 0 Complete the regret table. (Type in the numbers only.) (5 points each) A would be and B would be If he uses the minimax regret, which size bus will he decide to purchase? (5 points) If he feels the chances of low, medium, and high demands are 20 percent, 50 percent, and 30 percent respectively, What is the EVPI(Expected value of perfect information)? (10 points) Don't type in $