Cooper Pharmaceuticals, a specialty pharmaceutical company, has made significant investments to develop several product lines of $3$D printed drugs. However, with patents on some of its most popular brand$-$name drugs expiring in the near future, the company is expecting a significant financial hit. As a result, the Finance Department has determined that only two of the five product lines under development can continue to be supported at this time. As part of this decision, Cooper Pharmaceuticals must consider the likelihood of approval from the U$.$S$.$ Food and Drug Administration $($FDA$)$ for the $3$D printing of each product for consumer use. Chapter $3$ Exercise Template Spring $2024.$xls $($Worksheet Ex $3\mathrm{.}9)$ shows the potential revenues $($in millions of dollars$)$ for each of the alternative product lines and the likelihood of FDA approval.

Under an optimistic strategy, which two product lines would be selected for continued research and development?

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Under a pessimistic strategy, which two product lines would be selected for continued research and development?

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Using the Minimax Regret strategy, which product line would be selected for continued research and development?

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Using the Expected Value Model, which two product lines would be selected for continued research and development?

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