- Determine the break-even volume between batch flow and line flow production. 2. Determine the net incomes and expected value for each production level (20,000, 25,000 and 40,000) using a payoff table. 3. Identify the optimal production level based on maximizing expected value. 4. Determine the maximum amount that Avalanche is willing to pay for perfect information. 5. Develop a decision tree for the problem facing Avalanche Corporation without the probability values. 6. Compute the revised probabilities needed to complete the decision presented in the decision tree, and place these values in the decision tree. Show your probability calculations in tabular form. 7. Determine whether or not to hire the consultant using the decision tree. Explain why or why not. (Use the expected value as the decision criterion.)
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