Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mahesh runs a cloud kitchen that serves millet breakfast. Millet idlis are sold for Rs 50 a plate and costs Rs 28 to prepare. Therefore,
- Mahesh runs a cloud kitchen that serves millet breakfast. Millet idlis are sold for Rs 50 a plate and costs Rs 28 to prepare. Therefore, the per plate of idli is Rs 22. At present Mahesh must decide in advance how many salads to prepare each day (40, 50, 60 or 70). Actual demand will alsobe 40, 50, 60 or 70 each day with probabilities 0.1, 0.2, 0.4, 0.3.But after one year he develops an app and takes the pre orders a day in advance, so that he can prepare the idlis as per orders. Was the decision by Mahesh to develop app a right decision based on his EMVs. Represent both the situations using decision tree.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started