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Jane's New York Deli is considering expanding into a surrounding neighborhood with a new location. Use the payoff table to determine the expected profit or
Jane's New York Deli is considering expanding into a surrounding neighborhood with a new location. Use the payoff table to determine the expected profit or loss for each location, and determine the optimal purchase.
Purchase Economy improves (0.3) No change (0.3) Falls (0.4)
Newton $6750 $1750 -$2345
Springfield $5450 $3420 $600
New Rochford $2250 $1850 $850
Acton $7650 $2850 -$3650
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