Saved Help Save & Edt Suben Check my work Problem 5S-2 (Static) A small building contractor has recently experienced two successive years in which work opportunities exceeded the firm's capacity. The contractor must now make a decision on capacity for next year. Estimated profits under each of the two possible states of nature are as shown in the table below. Suppose after a certain amount of discussion, the contractor is able to subjectively assess the probabilities of low and high demand: Pllow) = 3 and thigh) - 7. Alternative Do nothing Expand Subcontract NEXT YEAR'S DEMAND LOW High $50 $60 80 40 70 20 Profit in $ thousands. a-1. Determine the expected profit of each alternative. (Enter your answers in thousands.) Do Nothing Expand Subcontract Expected Profit thousands thousands thousands