1. Individual Problems 17-1 Philippines You're the manager of global opportunities for a U.S. manufacturer that is considering expanding sales into Asia. Your market research has identified the market potential in Malaysia, the Philippines, and Singapore as described in the following table: Malaysia Probability Units Philippines Probability Units Singapore Probability Units Big Success Level 0.3 1,100,000 0.3 1,300,000 0.7 600,000 Mediocre 0.2 352,000 0.3 650,000 0.1 360,000 Failure 0.5 0 0.4 0 0.2 0 The product sells for $20, and each unit has a constant marginal cost of $16. Assume that the (fixed) cost of entering the market (regardless of which market you select) is $500,000. In the following table, enter the expected number of units sold, and the expected profit, from entering each market. Market Expected Number of Units Sold Expected Profit Malaysia Philippines Singapore Malaysia If you were to enter one of the previously described markets, which one would you enter in order to earn the highest expected profit? Singapore $ Philippines $ $