1. A private university wants to give notepads for postgraduate students to provide textbooks in an electronic format. They should decide one of the projects from 3 different companies that can make and sell tablets as shown in the table below. Calculate Expected Monetary Value (EMV) and decide which one of the projects to select based on the results. (7.5 marks) 7.5 Estimated Profits/Losses Project 1 Probability of occurrence of risk/opportunity 50% 40% 10% 20% 50% Project 2 $20,000 $30,000 -$50,000 $100,000 $50,000 -$60,000 $20,000 $10,000 -$35,000 30% 60% Project 3 20% 20%