Reproduce the excel spreadsheet for Getz Products company program A1 Getz Produc

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Reproduce the excel spreadsheet for Getz Products company program A1

Getz Products Company Decision Making Under Uncertainty and Under Risk States of Nature Decision Making Under Uncertainty Under Risk alterntives favorable market unfavorable market Row maximum Row maximum Row average Expected monetary Valuel (emv) construct large plant $200,000 ($180,000) $200,000 -180,000 $10,000 $48,000 construct small plant $100,000 ($20,000) $100,000 ($20,000) $40,000 $52,000 do nothing $0 $0 $0 $0 $0 $0 probabilities 60.00% 40.00% maximum $200,000 $0 $40,000 $52,000 decision criterion best decision maximum construct large plant maximum do nothing equity likely construct small plant EMV construct small plant enter the decision table in B6:C9. the best values for the four decision criteria are in D10:G10, and the associated alternatives for those values are in B13:B16. Actions                                    Copy D6:G6 TO D7:D8           Copy D10 TO E10:G10          Copy B28 TO C28                    STATE OF NATURE FAVORABLE MARKET UNFAVORABLE MARKET Column Maximum $200,000 $0 EwPI $120,000 Maximum EMV $52,000 EVPI $68,000 690 PART BUSINESS ANALYTICS MODULES 4 E AVERAGE(B6:C6) G MIN(B6: C6) A.1 Company Getz Products An Excel spreadsheet 2 Decision Making Under Uncertainty and Under Risk MAXB6:C6) for Analyzing Data in Examples A3 and A4 MONETARY for Getz Products FAVORABLE UNFAVORABLE ROW AVERAGE VALUE (EMvy S10.000 $48.000 $180,000 $200,000 5200000 -S180,000 540,000 6 Construct large plant $100,000 -$20,000 $100,000 7 Construct small plant 8 Do nothing. 0050 30 OS2000 9 Probabilities Max SUMPRODUCTOB6:C6,$B$9:$C$9) Best Decision 12 Decision Criterion 13 Maximax Construct large MAX(D6: D8) 14 Maximin Enter the Decision Table in B6:C9 15 Equally ant The best values for the four decision struct small plant 16 EMV criteria are in D10:G10, and the associated alternatives for those 18 -INDEX(AbfA8, MATCH(D10, D6:D8,0)) values are in B13:B16 19 DEX(A6:A8,MATCH(E10, E6: E8,0)) 21 DEX(A6:A8, MATCH(F10,F6: F8,0)) Actions Copy D6: G6 to D7:G8 21 NDEXIA6:A8,MATCH(G10, G6:G8,0)) Copy D10 to E10:G10 Copy B28 to C28 25 Expected Value of ect Information STATES OF NATURE SUMPRODUCT(B28:C28,$B$9:scs9) FAVORABLE UNFAVORABLE MARKET MARKET 28 Column Maximum $200,000 G10 -MAX(B6: B8) EVwPI 31 $120,fol D30 D31 Maximum EMV EVPI

Explanation / Answer

Getz Products Company Decision Making Under Uncertainty and Under Risk States of Nature favorable market unfavorable market Row maximum Row maximum Row average Expected monetary Valuel (emv) construct large plant $200,000 ######## $200,000 -180,000 $10,000 $48,000 construct small plant $100,000 ($20,000) $100,000 ($20,000) $40,000 $52,000 do nothing $0 $0 $0 $0 $0 $0 probabilities 60.00% 40.00% decision criterion best decision maximum construct large plant maximum do nothing equity likely construct small plant EMV construct small plant    STATE OF NATURE FAVORABLE MARKET UNFAVORABLE MARKET Column Maximum $200,000 $0 EwPI $120,000 Maximum EMV $52,000 EVPI $68,000 Getz Products Company Decision Making Under Uncertainty and Under Risk States of Nature favorable market unfavorable market Row maximum Row maximum Row average Expected monetary Valuel (emv) construct large plant $200,000 ######## $200,000 -180,000 $10,000 $48,000 construct small plant $100,000 ($20,000) $100,000 ($20,000) $40,000 $52,000 do nothing $0 $0 $0 $0 $0 $0 probabilities 60.00% 40.00% decision criterion best decision maximum construct large plant maximum do nothing equity likely construct small plant EMV construct small plant    STATE OF NATURE FAVORABLE MARKET UNFAVORABLE MARKET Column Maximum $200,000 $0 EwPI $120,000 Maximum EMV $52,000 EVPI $68,000

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