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Give/Provide: A) Formula B) Chart C) Well-Written Reasoning D) Final Answer 70. Decision analysis. A company sales manager, after careful analysis, presents two sales plans.
Give/Provide:
A) Formula
B) Chart
C) Well-Written Reasoning
D) Final Answer
70. Decision analysis. A company sales manager, after careful analysis, presents two sales plans. It is estimated that plan A will net $10 million if successful (probability .8) and lose $2 million if not (probability.2); plan B will net $12 million if successful (probability-7) and lose $2 million if not (prob- ability .3). What is the expected return for each plan? Which plan should be chosen based on the expected returnStep by Step Solution
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