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Hirschey 15th Edition: Chapter 16: Problems P165 and P16.7 P16.5: Probability Concepts. Narcissism Records, Inc., hasjust completed an agreement to re-release a rlcording of \"The Boss's Greatest Hits.\" The Boss had a number of hits on the rock and roll charts during the early 19805. Preliminary market research indicates two feasible marketing strategies: (1) concentration on developing general consumer acceptance by advertising on late-night television or (2) concentration on developing distributor acceptance through intensive sales calls by company representatives. Estimates for sales under each alternative plan and payoff matrices according to an assessment of the likelihood of product acceptance under each plan are as follows: Strategy 1 Strategy 2 Consumer Television Promotion Distributor Oriented Promotion Probability Outcome (Sales) Probability Outcome (Sales) 0.32 $250,000 0.125 $250,000 0.36 1,000,000 0750 750,000 0.32 1,750,000 0.125 1,250,000 A. Assuming that the company has a 50 percent profit margin on sales, calculate the expected profits for each plan. D. Assume that the management of Narcissism has a utility function like the one illustrated in the following figure. Which marketing strategy is best