The operations manager for a local bus company wants to decide whether he should purchase a small, medium, or large new bus for his company. He estimates that the annual profits (in $000) will vary depending upon whether passenger demand is low, moderate, or high, as follows. Demand Low Medium High Bus Small 50 60 70 Medium 40 80 90 Large 20 50 120 0.4 Prior Probability 0.3 0.3 What is his expected value of perfect information? Oa. $69,000 Ob.$87,000 Oc. $15,000 Od.$72,000 Oe. $61,000 how Transcribed Text What is the expected annual profit for the bus that he will decide to purchase using Bayes' decision rule? a. $61,000 Ob. $15,000 Oc. $69,000 Od. $87,000 Oe. $72,000 how Transcribed Text If he uses Bayes' decision rule, which size bus will he decide to purchase? Oa. Medium Ob. Small Oc. Either small or medium d. Either medium or large Oe. Large how Transcribed Text If he uses the maximum likelihood criterion, which size bus will he decide to purchase? Oa. Either small or medium Ob.Medium c. Either medium or large d. Small Oe. Large