Fill in the blanks: Finicky's Jewelers sells watches for $50 each. During the next month, they estimate that they will sell 150, 250, 350, or 450 watches with respective probabilities of 0.40, 0.35, 0.15, and . (figure it out). They can only buy watches in ots of ten from their dealer. 100, 200, 300, 400, and 500 watches cost $40, 39, 37, 36, and 34 per watch respectively. Every month, Finicky's has a clearance sale and will get rid of any unsold watches for $24 (watches are only in style for a month and so they have to buy the latest model each month). Any customer that comes in during the month to buy a watch, but is unable to, costs Finicky's S6 in lost goodwill. What is the calculated profit/loss if she buys 30 as: Optimist = Pessimist = Realist = Opportunist =

Fill in the blanks: Finicky's Jewelers sells watches for $50 each. During the next month, they estimate that they will sell 150, 250, 350, or 450 watches with respective probabilities of 0.40, 0.35, 0.15, and . (figure it out). They can only buy watches in ots of ten from their dealer. 100, 200, 300, 400, and 500 watches cost $40, 39, 37, 36, and 34 per watch respectively. Every month, Finicky's has a clearance sale and will get rid of any unsold watches for $24 (watches are only in style for a month and so they have to buy the latest model each month). Any customer that comes in during the month to buy a watch, but is unable to, costs Finicky's S6 in lost goodwill. What is the calculated profit/loss if she buys 30 as: Optimist = Pessimist = Realist = Opportunist =

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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