Title: Mr

Essay Details

Subject: Business
Author: Phillip W
Date: May 16, 2016
Level: University
Grade: A
Length: 4 / 1011
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

Maximax b. Maximin c. Minimax regret d. Equal likelihood Ans: a.Maintain Foreign Competitive Condition Decision Good Poor Max Maximax Expand $ 800,000 $ 500,000 800,000 Maintain 1,300,000 -150,000 1,300,000 1,300,000 Sell 320,000 320,000 320,000 b.Expand Foreign Competitive Condition Decision Good Poor Min Maximin Expand $ 800,000 $ 500,000 500,000 500,000 Maintain 1,300,000 -150,000 -150,000 Sell 320,000 320,000 320,000 c...

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In problem 1, now the research department has came up with a report regarding the future foreign competitive condition. It is estimated that a probability of 0.6 that good condition will happen in the future, and a probability of 0.4 that poor condition will happen. a. Determine the best decision by expected value...

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