Refer to the problem of the deodorant manufacturer of Exercises 2 and 11

(a) The manufacturer is comfortable with an assessment that the probability of low demand is .3, but is less secure about the probabilities for the other two demand levels. Under what range of probabilities for moderate demand will the expected monetary value cri- terion yield the choice of action found in Exercise 11?

(b) Take the remaining problem specifications to be as given in Exercises 2 and 11.

Under what range of profits for high demand when process A is used will the expected mone- tary value criterion give the choice of action found in Exercise 11?