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( b ) Blossom's Flowers purchases roses for sale for a grand graduation ceremony of XYZ University. The roses are purchased for K 3 5

(b) Blossom's Flowers purchases roses for sale for a grand graduation ceremony of XYZ
University. The roses are purchased for K35 a dozen and sold for K55 a dozen. Any roses
not sold on graduation ceremony day can be sold for K20 per dozen. The owner will
purchase 1 of 5 amounts of roses on graduation ceremony day: 150,250,400,550 or 650
dozen roses. Given 0.35,0.42,0.18,0.03 and 0.02 are probabilities for the sale of 150,250,
400,550 or 650 dozen roses, respectively.
i. Construct the conditional profit table.
ii. Construct the expected profit table.
iii. Determine the action alternative associated with the maximization of expected
profits.
(2 Marks)
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