Homework (Ch 171 Attempta: Keep the Highest: /2 1. Individual Problems 17-1 Philippines You're the manager of global opportunities for a U.S. manufacturer that is considering expanding sales into Asia, Your market research has identified the market potential in Malaysia, the Philippines, and Singapore as described in the following table: Success Level Big Mediocre Failure Malaysia Probability 05 0.3 Units 500,000 300,000 Philippines Probability 0.2 0.7 0.1 Units 1,400,000 700,000 Singapore Probability 0.3 0 3 Units 1,200,000 384,DO0 The product sells for $10, and each unit has a constant marginal cost of $8. Assume that the (fixed) cost of entering the market (regardless of which market you select) is $250,000. In the following table, enter the expected number of units sold, and the expected pro it, from entering each market. Market Expected Number of Units Sold Expected Profit Malaysia Philippines Singapore If you were to enter one of the previously described markets, which one would you enter in order to earn the highest expected profit? Philippines Malaysia Singapore