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  3. a consumer electronics company is planning to intr

A consumer electronics company is planning to introduce a new device. After careful consideration of costs,...

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Advance Math

  1. A consumer electronics company is planning to introduce a newdevice. After careful consideration of costs, (e.g., there is afixed cost of $5 million for developing the item),  theprojected state of the economy, etc., the marketing manager came upwith the following payoff table (in $millions)

Courses of action

Event

Market item

Do not market item

Introduction successful

$50

                -$5

Introduction not successful

-$40

-$5

  1. Calculate the regret table below. SHOW ALL WORK TO GET FULLCREDIT. (6 pts.)
  1. Calculate the minimax regret below. SHOW ALL WORK TO GET FULLCREDIT. (3 pts.)

Answer & Explanation Solved by verified expert
4.3 Ratings (724 Votes)
Here Im find regret table for these we choose each    See Answer
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