The advertising manager for Roadside Restaurants, Inc., needs to decide whether to spend this month's budget for advertising on print media, television, or a mixture of the two. She estimates that the cost per thousand "hits" (readers or viewers) will vary depending upon the success of the new cable television network she plans to use, as follows: $$\begin{array} { | l | l | l | l|}
\hline { \text { Strategy } } & { \text { Cable Network } } \
\hline & \text { Successful } & &\text { Failure } \
\hline \text { Print } & \$ 10 && 10 \
\hline \text { Mixed } & 4 & &14 \
\hline \text { Television } & 1 && 21 \
\hline
\end{array}$$ If she uses the Laplace criterion, which advertising strategy will she use?

Question

The advertising manager for Roadside Restaurants, Inc., needs to decide whether to spend this month's budget for advertising on print media, television, or a mixture of the two. She estimates that the cost per thousand "hits" (readers or viewers) will vary depending upon the success of the new cable television network she plans to use, as follows: $$\begin{array} { | l | l | l | l|} 
\hline   { \text { Strategy } } &  { \text { Cable Network } } \
\hline & \text { Successful } & &\text { Failure } \
 \hline \text { Print } & \$ 10 && 10 \
\hline \text { Mixed } & 4 & &14 \
\hline \text { Television } & 1 && 21 \
\hline
\end{array}$$ If she uses the Laplace criterion, which advertising strategy will she use?

Quizplus · Accepted Answer

The Answer of The advertising manager for Roadside Restaurants, Inc., needs to decide whether to spend this month's budget for advertising on print media, television, or a mixture of the two. She estimates that the cost per thousand "hits" (readers or viewers) will vary depending upon the success of the new cable television network she plans to use, as follows: $$\begin{array} { | l | l | l | l|} 
\hline   { \text { Strategy } } &  { \text { Cable Network } } \
\hline & \text { Successful } & &\text { Failure } \
 \hline \text { Print } & \$ 10 && 10 \
\hline \text { Mixed } & 4 & &14 \
\hline \text { Television } & 1 && 21 \
\hline
\end{array}$$ If she uses the Laplace criterion, which advertising strategy will she use?

The Advertising Manager for Roadside Restaurants, Inc If She Uses the Laplace Criterion, Which Advertising Strategy Will