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$1.0 $1.3 Do nothing Small demand (.4) Expand $1.3 Medium demand (.5) Do nothing Expand Large demand (.1) $1.5 $1.6 Buld $1.8 Do nothing Other use #1 $0.7 $1.5 Small demand (4) Medium demand (.5) Other use #2 $1.0 Expand $1.6 Large demand (1) $1.6 Do nothing Subcontract $1.5 Build $1.7 Do nothing Other use #1 ($0.9) Small demand (4) Medium demand (5) $1.4 Other use #2 $1.0 Do nothing Other use #1 $1.0 Large demand (1) $1.1 Other use #2 $0.9 $2.4 Subcontract Buld

$1.0 $1.3 Do nothing Small demand (.4) Expand $1.3 Medium demand (.5) Do nothing Expand Large demand (.1) $1.5 $1.6 Buld $1.8 Do nothing Other use #1 $0.7 $1.5 Small demand (4) Medium demand (.5) Other use #2 $1.0 Expand $1.6 Large demand (1) $1.6 Do nothing Subcontract $1.5 Build $1.7 Do nothing Other use #1 ($0.9) Small demand (4) Medium demand (5) $1.4 Other use #2 $1.0 Do nothing Other use #1 $1.0 Large demand (1) $1.1 Other use #2 $0.9 $2.4 Subcontract Buld

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Determine the course of action that has the highest expected payoff for this decision tree

$1.0 $1.3 Do nothing Small demand (.4) Expand $1.3 Medium demand (.5) Do nothing Expand Large demand (.1) $1.5 $1.6 Buld $1.8 Do nothing Other use #1 $0.7 $1.5 Small demand (4) Medium demand (.5) Other use #2 $1.0 Expand $1.6 Large demand (1) $1.6 Do nothing Subcontract $1.5 Build $1.7 Do nothing Other use #1 ($0.9) Small demand (4) Medium demand (5) $1.4 Other use #2 $1.0 Do nothing Other use #1 $1.0 Large demand (1) $1.1 Other use #2 $0.9 $2.4 Subcontract Buld
Transcribed Image Text:$1.0 $1.3 Do nothing Small demand (.4) Expand $1.3 Medium demand (.5) Do nothing Expand Large demand (.1) $1.5 $1.6 Buld $1.8 Do nothing Other use #1 $0.7 $1.5 Small demand (4) Medium demand (.5) Other use #2 $1.0 Expand $1.6 Large demand (1) $1.6 Do nothing Subcontract $1.5 Build $1.7 Do nothing Other use #1 ($0.9) Small demand (4) Medium demand (5) $1.4 Other use #2 $1.0 Do nothing Other use #1 $1.0 Large demand (1) $1.1 Other use #2 $0.9 $2.4 Subcontract Buld
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