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Even though independent gasoline stations have been having a difficult time, Susan Solomon has been thinking about starting her own independent gasoline station. Susan s
Even though independent gasoline stations have been having a difficult time, Susan Solomon has been thinking about starting her own independent gasoline station. Susans problem is to decide how large her station should be The annual returns will depend on both the size of her station and a number of marketing factors related to the oil industry and demand for gasoline. After careful analysis, Susan developed the following table containing the profits earned. What is the decision she would make using the maximax criterion?
Size of Station
Good market
Fair market
Poor market
Small
Medium
Large
Very large
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