Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Question
Doing nothing would yield how much profit if favorable market conditions
prevail according to the following profit decision table?
Alternative
Favorable Market
Do Nothing
$27,000
$12,000
$0
-$15,000
$27,000
Unfavorable Market
-$15,000
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Transcribed Image Text:Doing nothing would yield how much profit if favorable market conditions prevail according to the following profit decision table? Alternative Favorable Market Do Nothing $27,000 $12,000 $0 -$15,000 $27,000 Unfavorable Market -$15,000
For the following decision table, the highest value for the equally likely
criterion is __________; this occurs with alternative
States of Nature
Alternatives
S1
S2
Option 1
$10,000
$30,000
Option 2 $5,000
$55,000
Option 3
-$4,000
$60,000
$32,000; Option 3
$28,000; Option 3
$30,000; Option 2
$60,000; Option 2
$20,000; Option 1
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Transcribed Image Text:For the following decision table, the highest value for the equally likely criterion is __________; this occurs with alternative States of Nature Alternatives S1 S2 Option 1 $10,000 $30,000 Option 2 $5,000 $55,000 Option 3 -$4,000 $60,000 $32,000; Option 3 $28,000; Option 3 $30,000; Option 2 $60,000; Option 2 $20,000; Option 1
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