What is the difference between a level and a chase strategy? What are some advantages and disadvantages of each? Which do you believe is a better method?

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business math last three solutions

The table shows both prospective profits and losses for a company, depending on what decision is made and what state of nature occurs. Use the information to determine 2. what the company should do. State of Nature Decision s1 30 s2 80 S3 di d2 d3 d4 -30 100 30 -40 -80 -10 120 20 20 20 if an optimistic strategy is used. if a conservative strategy is used. if minimax regret is the strategy. а. b. c.

Muriel likes her job, but her boss gives lousybonuses. Muriel was recently offered a new jobwith better rewards, and her friend wants to knowif she intends to take it. “It depends on whetherthe bonus this year is generous. Let’s wait and see.We’ll find out next week.” Explain why Muriel islikely to be accepting the new job. How could sheimprove her strategy if she wants to stay at her current job and be better rewarded?

Jamie McCullough, owner of Leisure World, Inc., is worried about his business’ future. He has tried various strategies for two years now, and he’s still barely breaking even. Two years ago, Jamie McCullough bought the inventory, supplies, equipment, and business of Leisure World, located on the edge of Minneapolis, Minnesota. The business is in an older building along a major highway leading out of town, several miles from any body of water. The previous owner had sales of about $500,000 a year but was just breaking even. For this reason—plus the desire to retire to Arizona—the owner sold to Jamie for roughly the value of the inventory. Leisure World had been selling two well-known brands of small pleasure boats, a leading outboard motor, two brands of snowmobiles and jet-skis, and a line of trailer and pickup-truck campers. The total inventory was valued at $250,000—and Jamie used all of his own savings and borrowed some from two friends to buy the inventory and the business. At the…