19.13 the Islander Fishing Company purchases clams for $1.50 per pound from fishermen and sells them to various restaurants for $2.50 per pound. any clams not sold to the restaurants by the end of the week can be sold to a local soup company for $0.50 per pound. the company can pur- chase 500, 1,000, or 2,000 pounds. the probabilities of vari- ous levels of demand are as follows:

Demand (Pounds) Probability

500 .2

1,000 .4

2,000 .4

For Problem 19.13 in Chapter 19, construct a Payoff Table, an Opportunity Loss Table an Expected Monetary Value Table and the Expected Value of Perfect Information calculations and answer.

Subject | Mathematics |

Due By (Pacific Time) | 07/09/2013 11:00 pm |

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