=+add about $15,000 in contracts. If he purchases the mowers, he could expand his business by $10,000

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=+add about $15,000 in contracts. If he purchases the mowers, he could expand his business by $10,000 in a good year or by just $5000 in a bad one. And if he spends nothing, he won’t expand his business. In a bad year, his income would contract by about $1000.

Construct a payoff table and tree diagram for Shawn’s decision. Don’t forget to include his expenses in the calculations.

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Business Statistics Plus Pearson Mylab Statistics With Pearson Etext

ISBN: 978-1292243726

3rd Edition

Authors: Norean R Sharpe ,Richard D De Veaux ,Paul Velleman

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