solve using excel

There is an opportunity to install wind turbines on an island with a unique habitat for birds. The island is inhabited by seasonal cottagers and some permanent residents that are mostly farmers. The province is currently considering three options: 1. No installation of wind turbines on the island. 2. Installing a few turbines strategically positioned around the island. 3. Installing a large wind park scattered all along the island. The net benefit of installing a few wind turbines equals 100 if it is revealed that there is little impact on residents and bird populations. The net benefit of the wind park is 225 it is revealed that there is little impact on residents and bird populations. No installation has a net benefit of 0. In case we find that wind turbines inflict with bird migration and disturb residents the wind park will cause a net benefit of -150 and the installation of a few wind turbines causes a net benefit of -50. The probability of imposing little impact (p) is estimated by nearby Princess University to be equal to 0.6. The province is using a discount rate of 7%. a.) What is the expected value of each option and the preferred choice? (5) b.) What are the expected values and preferred choices with exogenous learning (no installation is needed and after one year we find out what the impact is)? What are the quasi-option values? (5) c.) What are the expected values and preferred choices with endogenous learning (we only learn by installing a few turbines and after one year we find out what the impact is)? What are the quasi-option values? (4) d.) How would you construct a multiple objective analysis in this case? Briefly explain what it would involve and how it would be constructed. (6) There is an opportunity to install wind turbines on an island with a unique habitat for birds. The island is inhabited by seasonal cottagers and some permanent residents that are mostly farmers. The province is currently considering three options: 1. No installation of wind turbines on the island. 2. Installing a few turbines strategically positioned around the island. 3. Installing a large wind park scattered all along the island. The net benefit of installing a few wind turbines equals 100 if it is revealed that there is little impact on residents and bird populations. The net benefit of the wind park is 225 it is revealed that there is little impact on residents and bird populations. No installation has a net benefit of 0. In case we find that wind turbines inflict with bird migration and disturb residents the wind park will cause a net benefit of -150 and the installation of a few wind turbines causes a net benefit of -50. The probability of imposing little impact (p) is estimated by nearby Princess University to be equal to 0.6. The province is using a discount rate of 7%. a.) What is the expected value of each option and the preferred choice? (5) b.) What are the expected values and preferred choices with exogenous learning (no installation is needed and after one year we find out what the impact is)? What are the quasi-option values? (5) c.) What are the expected values and preferred choices with endogenous learning (we only learn by installing a few turbines and after one year we find out what the impact is)? What are the quasi-option values? (4) d.) How would you construct a multiple objective analysis in this case? Briefly explain what it would involve and how it would be constructed. (6)