may want to use the What-If-Analysis Goal Seek Tool in Excel as described in Week 1 PPP Slides( 1-30).
6. The Expected Monetary Value( EMV) of producing 6 cases of cheese spread is ___.( Please round to a whole dollar.)
7. The Expected Monetary Value( EMV) of producing 9 cases of cheese spread is ___.( Please round to a whole dollar.)
8. John should manufacture _________ cases of cheese spread.
9. Construct a decision tree by fill-in the blanks below in reference to the following chart.
The decision choice at Decision 1 is ___ and that at Decision 2 is ___ Event 1 is Event 2 is _____.
The probability for Prob1 is . 50 and that for Prob2 is . 50.
Payoff 1 is _____ and Payoff 2 is- _______
EMV 1 is 30000 and EMV 2 is $ 0.