 I revoked the development certificate with the missing private key in XCode, and requested a new one. Voila! (What a welcome site that little pop up stating "the standalone was successfully created" was.)
   I revoked the development certificate with the missing private key in XCode, and requested a new one. Voila! (What a welcome site that little pop up stating "the standalone was successfully created" was.)I was afraid to do the revoking because there were so many warnings about it being irrevocable etc. So I printed out all the info on everything to do with certificates and profiles from the Apple Developer site so I could have the directions in hand as I followed the steps to do so.
The next thing I am going to do is EXPORT the Certificates and Profiles. Somehow I missed that in the past. I think when I updated to Yosemite, that is when the essential private key was deleted from my keychain. Who would have known? Now I am on my way to getting the IOS 8 fix my iPhone App desperately needs to the App Store.
Many thanks to the kind and helpful responders to my frustrated requests. You're the best!