Based on past experience, the owner of Radius Cycling 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 6300 4900 2100 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. Fill in and use the opportunity 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 Select an answer Decision: Stock Moderately Priced Bikes Decision: Stock High-End Bikes (f) Find the expected value Of perCUT INTUTTITaLION LVIT