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Data has been collected for a condominium project and the resulting payoff table developed (the conditional values in the table are in $ Millions): States

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Data has been collected for a condominium project and the resulting payoff table developed (the conditional values in the table are in $ Millions): States of Nature Alternative Strong Demand Week Demand Build Small Complex 8 7 Build Medium Complex 14 5 Build Large Complex 20 -9 Probabilities 0.8 0.2 With the current information, the Large Complex will project the highest EMV ($14.2 Million). The investors are interested in how a change in the current probabilities would impact their decision. 1. Complete a Sensitivity Analysis as a function of the probability values. 2. Plot your results. 3. For what range of probabilities do the individual alternatives have the highest expected values

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