After researching the market, Waldo Books (see Problem 8-21) has concluded that the probabilities of selling 50,

Question:

After researching the market, Waldo Books (see Problem 8-21) has concluded that the probabilities of selling 50, 100, 150, and 200 books next month are 0.2,0.35, 0.25, and 0.2, respectively.
(a) Using EMVs, how many books should Waldo order?
(b) Using EOL, how many books should Waldo order?
(c) Compute Waldo’sEYwPI and EVPI.