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three options. Those estimates are shown in the following table: Probability of Completing the Design table [ [ Option , On Time,One Week Late,Two
three options. Those estimates are shown in the following table:
Probability of Completing the Design
tableOptionOn Time,One Week Late,Two Weeks Late,Three Weeks LateInternal Engineers,External Engineers,Joint Design,
The expected monetary value using inside engineers to complete the design is $Enter your response as an integer.
The expected monetary value using an outside engineering firm to complete the design is $Enter your response as an integer.
The expected monetary value of conducting a joint design is $Enter your response as an integer.
What is the best decision based on an expected monetary value criterion?
External engineering firm Internal engineers
Joint design
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