The product design group of lyengar Eloctric Supplies, Inc, has doterminod that it neods to dosign a new series of switches. It must decide on one of three design strategies. The market forecast is for 300,000 units. The better and more sophisticated the design stralegy and the more tirme spent on value engineering. the less wil. be the variable cost. The chiof of engineering design, Dr. W L. Berty, has decided that the following costs are a good estenate of the initial and variable costs oonnected with each of the throe strategies explained below Low-tech a low-technology, low-cost process consisting of hiring sevoral now juhior engineers. This option has a foced cost of $40,000 and variablo-cost probabities of 0.2 for 50.53,0.5 for 50.48, and 0.3 for $0.44 Subcontract a medum-cost approach using a good outside design stalt. This approach woudd havo a foed cost of 550,000 and variable-cost probabilities of 0.8 of $0.55,0.2 of $0.48, and 02 of $0,42. High-tech: a high-fechnology approach using the very best of the inside staff and the latest computer-aided besign technology. This approach has a fixad cost of $65,000 and variable-cost probabllees of 0.9 of $0.39 and 0.1 of $036 What is the best decision based on an expected monetary valuo (EMV) critenon? (Note. We wart the lowest EMN, as we are dealing with costs in this problem.) Low ow Hightioch Subcontract