If she feels the chances of low, medium, and high demand are 50%, 20%, and 30% respectively, what are the expected annual profits for the number of beauticians she will decide to hire?
A) $54,000
B) $55,000
C) $70,000
D) $80,000
E) $135,000
Correct Answer:
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Q52: If she feels the chances of low,
Q53: If she uses the minimax regret criterion,
Q54: The maximax strategy would be:
A)small
B)Medium
C)med.-large
D)large
E)ex-large
Q55: The maximax strategy would be:
A)buy
B)lease
C)rent
D)high
E)low
Q56: If yes and no are equally likely,
Q58: With equally likely states of nature, the
Q59: If she uses the maximax criterion, how
Q60: The minimax regret strategy would be:
A)small
B)Medium
C)med.-large
D)large
E)ex-large
Q61: If he feels the chances of low,
Q62: If he uses the maximax criterion, which
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