Question $4$

Lance Bart is considering selling second hand tablets for kids. He has decided to sell one item for $$14,500$ but he will acquire them at a cost of $$7,600.$ Unsold tablets are donated and he will not be able to recover any cost incurred. He wants to know how many tablets he will need to purchase based on the demand and probabilities in the table below:

$\backslash$table$[[$Probability$,$Demand$],[30\%,6],[60\%,8],[10\%,4]]$

Required:

$($a$)$ Prepare a payoff table which should include the probabilities.

$($b$)$ Determine the maximax and the maximin.