Based on past experience, the owner of Humber Bicyles Co. makes assumptions about the demand for the high-end bike (see the pay-off table below): Demand for High-End Bikes Moderate Low Demand High Demand Demand Stock High- 3000 8000 10000 End Bikes Stock Decision | Moderately 4500 3500 500 Priced Bikes Probability of State of 0.4 0.4 0.2 Nature (a) Compute the expected monetary value for each decision: EMV(Stock High-End Bikes) = EMV(Stock Moderately Priced Bikes) =(b) Determine the best decision using the EMV criterion. Select an answer Select an answer Stock High-End Bikes (c) Determine the best decision using the EOL criterion. F Stock Moderately Priced Bikes hity loss table: Demand for High-End Bikes Low Demand Moderate Demand High Demand Stock High-End Bikes Stock Moderately Decision Priced Bikes Probability of State 0.4 0.4 0.2 of Nature (d) Compute the expected opportunity loss value for each decision. EOL(Stock High-End Bikes) = EOL(Stock Moderately Priced Bikes) =(e) State your EOL decision: Select an answer v Select an answer DeciSion: Stock Moderately Priced Bikes DeciSion: Stock HighEnd Bikes (1') Find the expected value