Part II: Fill in the blank (2 pts. each) is the Occupational Safety and Health Administration, and any workplace injury must be reported to this body within 8 hours. enterprises can increase output to a certain point before having to substitute away from the other enterprise. Part III: Problem solving (2 pts.) 1. The following table shows three stocker purchase strategies and respective outcomes. Weather Outcomes Probability 0.2 0.5 0.3 Good Average Poor Expected Value Minimum Value Maximum Value Range Strategy 1 Strategy 2 Strategy 3 Buy 300 Buy 400 Buy 500 $20,000 $26,000 $34,000 10,000 14,000 15,000 6,000 0 -10,000 10,800 12,200 11,300 6,000 0 - 10,000 20,000 26,000 34.000 14,000 26.000 44,000 Which strategy would you choose and why? (No right or wrong answer, use words like risk preferences, expectation, etc.) N Part II: Fill in the blank (2 pts. each) is the Occupational Safety and Health Administration, and any workplace injury must be reported to this body within 8 hours. enterprises can increase output to a certain point before having to substitute away from the other enterprise. Part III: Problem solving (2 pts.) 1. The following table shows three stocker purchase strategies and respective outcomes. Weather Outcomes Probability 0.2 0.5 0.3 Good Average Poor Expected Value Minimum Value Maximum Value Range Strategy 1 Strategy 2 Strategy 3 Buy 300 Buy 400 Buy 500 $20,000 $26,000 $34,000 10,000 14,000 15,000 6,000 0 -10,000 10,800 12,200 11,300 6,000 0 - 10,000 20,000 26,000 34.000 14,000 26.000 44,000 Which strategy would you choose and why? (No right or wrong answer, use words like risk preferences, expectation, etc.) N