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Category > Information Systems Posted 04 Jun 2017 My Price 6.00

A person has the choice of running hot snack stall or an ice cream

 

A person has the choice of running hot snack stall or an ice cream and cold drink shop at a certain holiday resort during the coming summer season. If the weather during the season is cool and rainy, he can expect to make a profit of Rs 15,000 and if it is warm, he can expect to make a profit of Rs 3,000 only, by running a hot snack stall. On the other hand, if his choice is to run an ice cream and cold drinkshop, he can expect to make a profit of Rs 18,000 if the weather is warm and only Rs 3,000 if the weather is cool and rainy. The meteorological authorities predict that there is 40% chance of the weather being warm during the coming season. You are to advise him as to the choice between the two types of stalls. Base your argument on the expectation of the result of the two courses of action and show the result in a tabular form.

 

 

 
 

Answers

Alpha Geek
(8)
Status NEW Posted 04 Jun 2017 05:06 AM My Price 6.00

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Attachments

file 1496555911-1904728_1_636320858066919923_Decision-table-and-EMV.xlsx preview (256 words )
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