Use a single excel file with formulas within answer cells. Show formulas in Excel  Your retail business sells pumpkins. You have to decide how many pumpkins to order from the farmer.  Based on your historical sales, you think the probability of selling 500 is 0.2, 1000 is 0.35, 1500 is 0.35, and 2000 is 0.1.  You can buy each pumpkin from the farmer for $3.35 and sell each pumpkin for $5.00.  If you have leftover pumpkins at the end of the season, you can sell them to a local homeless shelter for $1.75. Calculate all EMVs and recommend a strategy.

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Use a single excel file with formulas within answer cells. Show formulas in Excel 

  1. Your retail business sells pumpkins. You have to decide how many pumpkins to order from the farmer.  Based on your historical sales, you think the probability of selling 500 is 0.2, 1000 is 0.35, 1500 is 0.35, and 2000 is 0.1.  You can buy each pumpkin from the farmer for $3.35 and sell each pumpkin for $5.00.  If you have leftover pumpkins at the end of the season, you can sell them to a local homeless shelter for $1.75.

Calculate all EMVs and recommend a strategy. 

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