A cafe that makes Cupcake Boxes each morning sells each box for $45. Those leftover at the end of day are sold to a neighboring restaurant for $14. The cost for creating/producing one Cupcake box is $21.

Complete the payoff & opportunity cost tables (clarify what Excel Formulas are in each of these cells) and find the expected value of & with perfect information to the number of Cupcake boxes to make of 20, 25 or 30 Cupcake Boxes.

Selling price per cupcake box $45.00 End of day selling proce of cupcake box (to a restaurant $14.00 Cost per cuppcake box $21.00 Probability of cupcake box demand Demand 20 25 30 0.25 0.35 0.40 Profit per cupcake box sold during the day Profit per cupcake box sold at the end of day to a restaurant Payoff table Demand (random outcome) 20 25 30 Cupcake Boxes Made (Decision) Probability 0.25 0.35 0.40 EMV 20 25 30 Demand (random outcome) Opportunity cost table 20 25 30 Expected Cupcake Boxes Made (Decision) Probability 0.25 0.35 0.40 Opportunity Cost 20 25 30 Expected Value WITH Perfect lnfonnation (EVwPl) = Expected Value OF Perfect lnfonnation (EVPI) =