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The owner of Tastee Cookies needs to decide whether to lease a small, medium, or large new retall outlet. The owner estimates that monthly profits
The owner of Tastee Cookies needs to decide whether to lease a small, medium, or large new retall outlet. The owner estimates that monthly profits will vary with demand for cookies as follows: SIZE OF OUTLET Small Medium Large DEMAND LOW $1,000 500 0 HIGH 1,000 2,500 3,000 If there is a 40% chance that demand will be high, what is the expected payoff with perfect information? 
vary with demand for cookies as follows: If there is a 40% chance that demand will be high, what is the expected poyoff with perfect information
The owner of Tastee Cookies needs to decide whether to lease a small, medium, or large new retall outlet. The owner estimates that monthly profits will vary with demand for cookies as follows: SIZE OF OUTLET Small Medium Large DEMAND LOW $1,000 500 0 HIGH 1,000 2,500 3,000 If there is a 40% chance that demand will be high, what is the expected payoff with perfect information?
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