Uwenulis immeducation.com 252Fgriddleware HW 55 Help Save AE 5 Chee 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: P (low) = 3 and P high) - 7. 20 Alternative Do nothing Expand Subcontract NEXT YEAR'S DEMAND Loy $50 $50 20 80 40 70 Profit in $thousands 2-1. Determine the expected profit of each alternative. (Enter your answers in thousands.) Do Nothing Expand Subcontract Expected Profit thousands thousands thousands a-2. Which alternative is best? nanathina