The hiring process at Queenswoy Stafng Agency is great, but far from perfect. Good candidates are sometimes rejected and bad ones sometimes hired. Since the agency earns profits from hiring good candidates. they also incur losses when they hire a candidate that is red within 6 months or when they fail to hire [reject] a good candidate. They used relative frequency to determine the probability of hiring a good candidate and presented their payoffs [in $000} as follows: m- \"-- -n Note: Payoffs in the given table are in thousand dollars. The expected values required below are in dollars. a} The expected monetary value of Hire is 1; J b) The expected monetary value of Reject is $ c} Using the expected value approach, is Queenswoy more likely to hire or reject a Select an answer V Select an answer Hire d) If Queen REied Indifferent expected y a - - . . 1$- candidate? if a candidate is Good or Bed with certainty, what is the mation? A medical equipment manufacturer must decide whether to manufacture a new component inhouse. or purchase it from an external supplier. or do neither. Their success will depend on the severity of the second wave of an impending pandemic. Experts have predicted that there is a 19% chance that the second wave will be severe and a 81% chance that it will be mild. If the second wave is severe, the company will earn $036 million in prots if they manufacture. and $13.25 million if they purchase. If the second wave is mild, the company will lose NEEDED if they manufacture but still earn $?5,DDD in profits if they purchase. a} Select the decision tree below that best represents this decision problem. \"CE .g E E b] What is the optimal expected monetary value of this decision? $ ' c] Based on expected values, what is the best decision for this company? O Manufacture or Purchase G Choose mild 0 Manufacture G Choose severe Q Do nothing O Purchase