SophiaPretty

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Category > Business & Finance Posted 31 Aug 2017 My Price 10.00

The following payoff matrix shows the profit outcomes for three projects,

The following payoff matrix shows the profit outcomes for three projects, A, B, and C, for each of two possible product prices.  There is a 60% probability the price will be $10 and a 40% probability the price will be $20.

 

Profit

Project

P = $10

P = $20
A

20

80

B

40

60

C

-26

140

 

Using the maximum expected value rule a decision maker would choose

a.            A.

b.            B.

c.            C.

d.            impossible to tell from the information

Using coefficient of variation rule a decision maker would choose

a.            A.

b.            B.

c.            C.

d.            can't use this rule under these circumstances

 

Answers

SophiaPretty
(5)
Status NEW Posted 31 Aug 2017 07:08 AM My Price 10.00

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