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The following payoff table provides profits based on various possible decision alternatives and various levels of demand at Amber Gardner's software firm: Demand Level Probability

The following payoff table provides profits based on various possible decision alternatives and various levels of demand at Amber Gardner's software firm:

Demand Level

Probability

0.3

0.7

Low

High

Alternative

A

$12,500

$30,000

B

$14,000

$14,000

C

$7,500

$41,000

point)

D

($2,000)

$50,000

*Profits in $ thousands

a. Using Excel, create an X,Y plot the expected-value lines for the four alternatives on a graph. Label the graph completely and clearly. (6 pts)

Could you please list the steps on how to do this in excel

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