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A company is considering three vendors for purchasing a CRM system: Delphi Inc., CRM International, and Murray Analytics. The costs of the system are expected
A company is considering three vendors for purchasing a CRM system: Delphi Inc., CRM International, and Murray Analytics. The costs of the system are expected to depend on the length of time required to implement the system, which depends on such factors as the amount of customization required, integration with legacy systems, resistance to change, and so on. Each vendor has different expertise in handling these things, which affect the costs. The costs (in millions of $ ) are shown below for short, medium, and long implementation durations. Fill in the table below for maximum and minimum profit payoffs under each alternative. Round your answers to the nearest cent. Calculate the amounts foregone by not adopting the optimal course of action for each possible implementation duration. Determine the maximum opportunity cost for each alternative. Fill in the table below. If your answer is zero, enter "0". Round your answers to the nearest cent. Conduct a decision analysis to evaluate the choice of a vendor. The aggressive strategy (minimin) is to choose the The conservative strategy (minimax) is to choose the The opportunity loss strategy is to choose the
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