(Coping with uncertainty) Metalworks, Inc., manufactures a variety of indus¬ trial products from sheet metal. The firm is engaged in its annual process of budgeting costs and revenues for the coming year. The cost of metal con¬ sumes approximately 50 percent of total revenues. Discuss which strategies for dealing with uncertainty would be appropriate for Metalworks to use in estimating and managing its metal costs for the coming year.

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