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Assignment: reconstruct the problem with Design 3 alternative added to the problem Favorable Market - probability 0.7 Payoff $10,600,000. Non-favorable Marker - probability 0.3 Payoff $100,000. Just a reminder, the following are the input data for design 1 and design 2 Design 1 Favorable Market - probability 0.7 Payoff $10,000,000. Non-favorable Marker - probability 0.3 Payoff $500,000. Design 2 Favorable Market - probability 0.7 Payoff $10,500,000. Non-favorable Marker - probability 0.3 Payoff $200,000. The task is to select the best design.
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