A chain of ski equipment shops purchases skis from a manufacturer each summer for the coming winter season. The most popular intermediate model costs $125 and sells for $275. Any skis left over at the end of the winter are sold at the store's spring sale (for $100). Sales over the years have been quite stable. Gathering data from all its stores, the chain developed the given probability distribution for demand. The manufacturer will take orders only for multiples of 20, so the chain is considering the following order sizes: 160, 180, 200, 220, 240. Complete parts a through c below. Click the icon to view the probability distribution for demand. . . . a. Construct a payoff table for the ski equipment chain's decision problem of how many pairs of skis to order. What is the best decision from an expected value basis? (Type integers or decimals. Do not round.) Demand Order 150 175 200 225 250 160 CA CA 180 200 220 240 The best decision from an expected value basis is to purchase pairs of skis, which gives an expected profit of $ (Round to two decimal places as needed.) b. Find the expected value of perfect information. The expected value of perfect information is $ (Type an integer or a decimal. Do not round.)c. What is the expected demand? What is the expected profit if the shop orders the expected demand? How does this compare with the expected value decision? The expected demand is pairs of skis, which gives an expected profit of $ This result is than the expected value decision. (Type integers or decimals. Do not round.)\fA chain of ski equipment shops purchases skis from a manufacturer each summer for the coming winter season. The most popular intermediate model costs $125 and sells for $275. Any skis left over at the end ot the winter are sold at the store's spring sale {for $100]. Sales over the years have been quite stable. Gathering data from all its stores, the chain developed the given probability distribution tor demand. The manufacturer will take orders onlyr for multiples of 2i], so the chain is considen'ng the following order sizes: 160, 130, 21m, 220, 240. Complete parts a through c below. a Click the icon to view the probability distribution for demand. Demand A Order 150 1?5 200 225 250 160 $_ $_ $:| $|:| 5D 130 $_ $_ $:| $|:| 5D 200 $_ $_ $:| $|:| 5D 220 :5 $_ $1 $D 5D 24:] $_ $_ $:| $|:| $|:| The best decision from an expected value basis is to purchase E pairs of skis, which gives ' ' ' " '\"'_|. (Round to two decimal places as needed.) b. Find the expected value of perfect information. worse than The expected value of perfect information is $|:|. (Type an integer or a decimal. Do not round.) the same as c. What is the expected demand? What is the expected profit if the shop orders the expected d! better than ompare with the expected value decision? The expected demand is El pairs of skis, which gives an expected profit of $D. This result ism than the expected value decision. fTvoe inteoers or decimals. Do not round.) _ A chain of ski equipment shops purchases skis from a manufacturer each summer for the coming winter season. The most popular intermediate model costs $125 and sells for $275. Any skis left over at the end of the winter are sold at the store's spring sale (for $100). Sales over the years have been quite stable. Gathering data from all its stores, the chain developed the given probability distribution for demand. The manufacturer will take orders only for multiples of 20, so the chain is considering the following order sizes: 160, 180, 200, 220, 240. Complete parts a through c below. Click the icon to view the probability distribution for demand. Demand Order 150 175 200 225 250 160 180 200 220 240 The best decision from an expected value basis is to purchase pairs of skis, which gives an expected profit of $ (Round to two decimal places as needed.) b. Find the expected value of perfect information. The expected value of perfect information is $. 240 (Type an integer or a decimal. Do not round.) 180 c. What is the expected demand? What is the expected profit if the expected demand? How does this compare with the expected value decision? 220 The expected demand is pairs of skis, which gives an expec. This result is than the expected value decision. 200 (Type integers or decimals. Do not round.) 160