You are asked to use the information provided in the following matrix to help decide...
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You are asked to use the information provided in the following matrix to help decide on the preferred price for mens sneakers in 2023. The payoffs indicate the forecast change in revenue (in 000s) from mens sneaker sales next year. Options Increase Price Reduce Price Price Unchanged UK Economic Performance (2023) Recession Stagnation Growth -100 110 600 100 250 200 50 95 420 1.3 You have been offered the opportunity to purchase information predicting with absolute certainty the performance of the UK economy in 2023. What is the maximum it is worth paying for this? (4 marks)
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