Problem 2) Mick Karra is the manager of MCZ Drilling Products, which produces a variety of specialty valves for oil field equipment. Recent activity in the oil fields has caused demand to increase drastically, and a decision has been made to open a new manufacturing facility. Three locations are being considered, and the size of the facility would not be the same in each location. Thus, overtime might be necessary at times. The following table gives the total monthly profit (in $1,000s) for each possible location under each demand possibility. The probabilities for the demand levels have been determined to be 20% for low demand, 30% for medium demand, and 50% for high demand. PAYOFFS Outcomes is Demand isDemad is Demand is Low $85 $90 Medium High $110$150 $120 Alternatives Ardmore, OK Sweetwater, TX $100 Lake Charles, LA $110 $120 a. What is the expected value with perfect information in this situation (EVwPI)? b. What is the expected value of perfect information in this situation (EVPI)