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answer questikns a-f 5. The local hiring manager Sukhwa from Target must decide whether to hire 1, 2, or 3 workers. He estimates that net
answer questikns a-f
5. The local hiring manager Sukhwa from Target must decide whether to hire 1, 2, or 3 workers. He estimates that net revenues (in thousands) will vary with how well Hilo citizens comply with the new store COVID-19 policy. If they comply with the new policy, then hiring more workers result in excess costs. #of Workers 1 2 3 Low Compliance 50 100 150 Medium Compliance 50 60 70 High Compliance 50 20 -10 a. As you already know Sukhwa is an extremely optimistic person, how many new workers will he hire? b. Today Sukhwa had an argument with his mom and is feeling extremely pessimistic, what decision will he make? c. If Sukhwa chooses to minimize his maximum regret, how many new workers will he hire? d. If the manager is neither optimistic nor pessimistic (50:50), what decision will he make? e. If he thinks the chances of low, medium, and high compliance are 20%, 30%, and 50%, respectively, what are the expected net revenues for the number of workers he will decide to hire? f. If he thinks the chances of low, medium, and high compliance are 20%, 30%, and 50%, respectively, what is the expected value of perfect information Step by Step Solution
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