In calculating the life cycle costs of a product, which of the following costs would be excluded?Select all that apply. Testing costs. Production costs. Preliminary and detailed design costs. Planning and concept design costs. Distribution and customer service costs Nonod, the marketing manager of SAT Breweries and is deciding which of four potential selling prices to charge for a beer they plan on launching. The alcohol market is a bit uncertain and reaction from competitors may be strong, medium or weak. She has prepared a payoff table showing the forecast profit for each of the possible outcomes. Competitor Selling Price Reaction RBO R90 R100 R110 Strong R70,000 R80,000 R70,000 R75,000 Medium R50,000 R60,000 R70,000 R80,000 Weak R90,000 R100.000 R90,000 R80,000 Identify, using a regret matrix, the selling price that would be chosen if the manager applies the minimax regret criterion to make the decision (Use the pay off table above) Answer: R... Saved Nonozi, the marketing manager of SAT Breweries and is deciding which of four potential selling prices to charge for a beer they plan on launching. The alcohol market is a bit uncertain and reaction from competitors may be strong, medium or weak. She has prepared a payoff table showing the forecast profit for each of the possible outcomes. Competitor Selling Price Reaction R80 R90 R100 R110 Strong R70,000 R80,000 R70,000 R75,000 Medium R50,000 R60,000 R70,000 R80,000 Weak R90,000 R100,000 R90,000 R80,000 Using the pay-off table above, lidentify the selling price that would be chosen if the manager applies the maximin criterion to make the decision Answer: R