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Problem 1 Jacqueline Mulvaney makes bespoke corsages. She is about to attend an important show in London. She thinks that if the market is favorable,
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Jacqueline Mulvaney makes bespoke corsages. She is about to attend an important show in London. She thinks that if the market is favorable, she can sell deluxe corsages at $ each. However, if the market is not good, she will only sell at $ each. Jacqueline also makes a simplerange of corsages. If the market is positive, she can sell simple corsages at $ each, whereas if the market is not good, she will only sell at $ each. To produce either set of corsages costs about the same and she only has time to make one range. If Jacqueline feels that there is a chance of the show going well, which range of corsages should she make based on the EMV?
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