Melissa Rossi,Product Manager at National Consumers,Inc.(NCI),is evaluating alternatives for introducing a new package for toothpaste.She has identified four alternative markets,and has constructed the following table which shows NCI's rewards (in $1,000,000's)for various levels of acceptance by the markets and their probabilities: The expected monetary payoff with perfect information is ___.
A)$570,000
B)$680,000
C)$760,000
D)$830,000
E)$980,000

Question

Melissa Rossi,Product Manager at National Consumers,Inc.(NCI),is evaluating alternatives for introducing a new package for toothpaste.She has identified four alternative markets,and has constructed the following table which shows NCI's rewards (in $1,000,000's)for various levels of acceptance by the markets and their probabilities:  The expected monetary payoff with perfect information is ___.
A)$570,000 
B)$680,000 
C)$760,000 
D)$830,000 
E)$980,000

Quizplus · Accepted Answer

The Answer of Melissa Rossi,Product Manager at National Consumers,Inc.(NCI),is evaluating alternatives for introducing a new package for toothpaste.She has identified four alternative markets,and has constructed the following table which shows NCI's rewards (in $1,000,000's)for various levels of acceptance by the markets and their probabilities:  The expected monetary payoff with perfect information is ___.
A)$570,000 
B)$680,000 
C)$760,000 
D)$830,000 
E)$980,000