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The owner of Tastee Cookies needs to decide whether to lease a small, medium, or large new retail outlet. The owner estimates that monthly profits
The owner of Tastee Cookies needs to decide whether to lease a small, medium, or large new retail outlet. The owner estimates that monthly profits will vary with demand for cookies as follows: If there is a 30% phance that demand will be high, what is the expected payoff with perfect information? The owner of Tastee Cookies needs to decide whether to lease a small, medium, or large new retail outlet. The owner estimates that monthly profits will vary with demand for cookies as follows: If there is a 30% phance that demand will be high, what is the expected payoff with perfect information
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