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In Exercise 24, suppose that the firm also has the option of using both surveys. Furthermore, since both surveys would be conducted by the same
In Exercise 24, suppose that the firm also has the option of using both surveys. Furthermore, since both surveys would be conducted by the same marketing research firm, the total cost of the two surveys is only $40,000, provided that a decision is made in advance to use both surveys (that is, the firm cannot use one survey and then decide whether or not to use the other). Given any one of the three events 1, 2, and 3, the results of survey B are considered to be independent of the results of survey A. What should the firm do?
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