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table shows the estimated quarterly profits (in thousands of dollars). (a) What is the decision to be made, whet is the chance event, and what
table shows the estimated quarterly profits (in thousands of dollars). (a) What is the decision to be made, whet is the chance event, and what is the consequence for this problem? The decision to be made is . The chance event is The cansequence is the amount of quarierly profit How many decision altematives are there? How many outoomes are there for the chance event? b service. dollars.) EV(full) \$ thousands EV(discount) $ thousands The optimal decision is the discount service. EV(full) $ thousands EV(discount) $ thousands The optimal decisian is the service. If the probability of strong demand falls below , the discount service is the best choice. If the probability of strong demand is greater than
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