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| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 2 Days Ago |
| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Brilliant Color is a small supplier of chemicals and equipment that are used by some photographic stores to processÂ
mm film. One product that Brilliant Color supplies isÂ
John Kubrick, president of Brilliant Color, normally stocksÂ
cases ofÂ
each week. For each case that John sells, he receives a profit of
. Like many photographic chemicals,Â
has a very short shelf life, so if a case is not sold by the end of the week, John must discard it. Since each case costs John
, he losesÂ
for every case that is not sold by the end of the week. There is a probability ofÂ
of sellingÂ
 cases, a probability ofÂ
of sellingÂ
 cases, and a probability ofÂ
of sellingÂ
 cases.
Â
Â
(a) Construct a decision table for this problem. Include all conditional values and probabilities in the table.
Â
(b) What is your recommended course of action?
Â
(c) If John is able to developÂ
with an ingredient that stabilizes it so that it no longer has to be discarded, how would this change your recommended course of action?
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