The CEO of Lucky Petroleum Co. has been considering to open a new gasoline statioin. He must decidehow large the station should be. The annual returns (IDR billions) will depend on both the size of...

The CEO of Lucky Petroleum Co. has been considering to open a new gasoline statioin. He must decidehow large the station should be. The annual returns (IDR billions) will depend on both the size of the stationand market factor. After a careful analysis he developed the following table:

1. Compute the expected value of each alternative size of station, and select the best


2. Construct the opportunity loss table and determine the best


3. Compute the expected value of perfect