QUESTION 6: Expected value Applied to Business Application 5 points) The table shows both prospective...
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QUESTION 6: Expected value Applied to Business Application 5 points) 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 what the company should do. State of Nature Decision S] S2 S3 di 30 80 -30 d2 100 30 -40 dz -80 -10 120 de 20 20 20 if an optimistic strategy is used. b. if a conservative strategy is used. c if minimax regret is the strategy. a c
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