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Manufacturing must decide whether to set their production capacity next quarter to small, medium or large while hoping that a looming employee strike will not
Manufacturing must decide whether to set their production capacity next quarter to small, medium or large while hoping that a looming employee strike will not actually materialize. Their projected annual profits$(000)depend on the event of the strike as follows: Part A 1. What is the best expected payoff and the corresponding decision using the Expected Monetary Value (EMV) approach?
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