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( b ) Blossom's Flowers purchases roses for sale for a grand graduation ceremony of XYZ University. The roses are purchased for K 3 5
b Blossom's Flowers purchases roses for sale for a grand graduation ceremony of XYZ
University. The roses are purchased for K a dozen and sold for K a dozen. Any roses
not sold on graduation ceremony day can be sold for K per dozen. The owner will
purchase of amounts of roses on graduation ceremony day: or
dozen roses. Given and are probabilities for the sale of
or dozen roses, respectively.
i Construct the conditional profit table.
ii Construct the expected profit table.
iii. Determine the action alternative associated with the maximization of expected
profits.
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