Howard Weiss, Inc., is considering building a sensitive new radiation scanning device. His managers believe that there is a

probability of $0\mathrm{.}40$ that the ATR Co$.$ will come out with a competitive product. If Weiss adds an assembly line for the product and ATR Co$.$ does not follow with a

competitive product, Weiss's expected profit is $$40,000$; if Weiss adds an assembly line and ATR follows suit, Weiss still expects $$10,000$ profit. If Weiss adds a new plant

addition and ATR does not produce a competitive product, Weiss expects a profit of $$600,000$; if ATR does compete for this market, Weiss expects a loss of $$120,000.$

a$)$ Expected value for the Add Assembly Line option $=$$$($enter your answer as a whole number$).$

Expected value for the Build New Plant option $=$$$($enter your answer as a whole number$).$

The alternative that provides Weiss the greatest expected monetary value $($EMV$)$ is

The value of the return under this decision is $$,($enter your answer as a whol

b$)$ The expected value of perfect information $($EVPI$)$ for Weiss $=$$$($enter your an: Add Assembly Line