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1. Referring to Sensitivity and Probability, what are the differences between a pessimistic, a most likely, and an optimistic estimate? Why would you present these

1. Referring to Sensitivity and Probability, what are the differences between a pessimistic, a most likely, and an optimistic estimate? Why would you present these scenarios?

2. How does rationing affect Capital Decisions? Distinguish between Independent Opportunities and Mutually Exclusive Opportunities.

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