(Answered) Construct an opportunity loss table

Management Studies

Kelly weeks, president of weeks manufacturing, Inc., is considering whether to build more manufacturing plants in Wisconsin. Her decision is summarized in the following table:

Alternatives	Favorable Market	Unfavorable Market
Build a large plant	425,000	-275,000
Build a small plant	75,000	-15,000
Don't build	0	0
Probabilities	0.4	0.6

Required:

Question 1: Construct an opportunity loss table.

Question 2: determine EOL and the best strategy.

Question 3: What is the expected value of perfect information.

Support your statements with examples

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