A businessman must decide whether to open a new mini grocery branch or sim- ply extend the number of hours of its operation on its existing branch with a pay- off of P150,000. According to his friend, demand at the new location can either be low or high, which the probabilities are estimated to be 35% and 65%, respec- tively. If a new branch is opened and demand proves to be high, the businessman may choose to operate 24 hrs (payoff is P350,000) or to operate 12 hrs (payoff is P200,000). If a new branch is opened and demand proves to be low, there is no need to operate on a 24-hr basis but instead, they will just stick to 12-hr opera- tion with a payoff of P100,000 or enhance marketing strategy through advertis- ing. Projected response to advertising may either be favorable or not favorable, with estimated probabilities of 40% and 60%, respectively. If demand is favor- able, the payoff grows to P310,000 and if the response is unfavorable, the payoff is P120,000. The cost of advertising is P45,000.

A businessman must decide whether to open a new mini grocery branch or sim- ply extend the number of hours of its operation on its existing branch with a pay- off of P150,000. According to his friend, demand at the new location can either be low or high, which the probabilities are estimated to be 35% and 65%, respec- tively. If a new branch is opened and demand proves to be high, the businessman may choose to operate 24 hrs (payoff is P350,000) or to operate 12 hrs (payoff is P200,000). If a new branch is opened and demand proves to be low, there is no need to operate on a 24-hr basis but instead, they will just stick to 12-hr opera- tion with a payoff of P100,000 or enhance marketing strategy through advertis- ing. Projected response to advertising may either be favorable or not favorable, with estimated probabilities of 40% and 60%, respectively. If demand is favor- able, the payoff grows to P310,000 and if the response is unfavorable, the payoff is P120,000. The cost of advertising is P45,000.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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