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4. A manager can adopt only one of three projects A,B or C. They generate different revenues in different economic conditions - Boom, Norm or
4. A manager can adopt only one of three projects A,B or C. They generate different revenues in different economic conditions - Boom, Norm or Recession. The probability of each condition is 20% for Boom, 60% for Norm and 20% for Recession. The revenues are listed below. If the manager is risk-averse and the cost of adopting any project is 100 , which project do you think he may adopt? What if the cost is 150
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