QUESTION THREE (15 MARKS) TWILIGHT bakery is known for producing and distributing fresh bread to a high end market in Kileleshwa. A crate of bread is sold at Ksh 2000, having incurred production cost of ksh 1200 for transportation cost and storage cost is 10% of the production cost. If a crate is not sold in the high end market it is sold to low end market at ksh 300 per crate. As a strategy, Donix bakery is open to the following supply options; Crates SS 150 200 300 350 400 450 500 Required; a) Generate the payoff matrix for the problem. [5 Marks] b) Based on the following decision criteria, which supply strategy should be selected. i. Maximax criterion[1 Marks] ii. Maxmin criterion[1 Marks] iii. Minmax criterion[1 Marks] iv. Laplace criterion[1Marks] v. Huwicz criterion Assuming alpha is 0.75[1 Marks] c) Assuming the following probability of distribution of demand for a crate as follows; Crates DD 150 200 300 350 400 450 500 Probability 0.2 0.1 0.3 0.2 0.1 0.1 0.1 Required; i. Which option will be selected based on expected monetary value (EMV) [3Marks]? ii. Compute expected value of perfect information. (EVPI) [2 Marks]