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I need the whole solution step-by-step 1) ABC Corporation's decision to produce a new line of recreational products resulted in the need to construct either
I need the whole solution step-by-step
1) ABC Corporation's decision to produce a new line of recreational products resulted in the need to construct either a small plant or a large plant. The best selection of plant size depends on how the marketplace reacts to the new product line. To conduct an analysis, marketing management has decided to view the possible longrun demand as low, medium, or high. The following payoff table shows the projected profit in millions of dollars: a. What is the decision to be made? (10p.) b. Construct a decision tree. ( 25p.) c. Recommend a decision based on the use of the optimistic, conservative (pessimistic), and minimax regret approaches (without consideration of probabilities). ( 15 p.) Step by Step Solution
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