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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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