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Help As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential area

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As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential area where you are the only builder. Unfortunately, you must build the homes before you learn how strong demand rs for homes in this large neighborhood. There is a 30 percent chance of low demand and a 70 percent chance of hlgh demand. The corresponding (inverse) demand functions for these two scenarios are P: 500,000 -4000 and P: 800,000 -3250, respectively. Your cost function is (10) = 175,000 + 605.7500. How many new homes should you build, and what profits can you expect? ) Number of homes you should build: [3 homes Prots you can expect: $ E

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