The national sales manager for "I colored this" (ICT) T-shirts provides all salespersons with the payoff table shown next, giving the estimated profit when a retailer purchases from one to four dozen T-shirts. The probability of demand for each state of nature is also shown. PAYOFF TABLE Future Demands 2 3 4 Probabilities of demands 0.2 0.4 0.3 0.1 Purchase Quantities+ Demand + 2 3 1 120 120 120 120 240 240 240 3 -120 120 360 360 4 |-240 240 480

Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
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The national sales manager for "I colored this" (ICT) T-shirts provides all salespersons with the payoff table shown next, giving the estimated profit when a
retailer purchases from one to four dozen T-shirts. The probability of demand for each state of nature is also shown.
PAYOFF TABLE
Future Demands
2
3
Probabilities of demands
0.2
0.4
0.3
0.1
Purchase Quantitiest Demand +
1
2
3
4
1
120
120
120 120
2
240
240 240
3
120 | 360 | 360
240 480
-120
4
-240
What is the maximum potential payoff under conditions of certainty?
Multiple Choice
360
240
120
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Transcribed Image Text:The national sales manager for "I colored this" (ICT) T-shirts provides all salespersons with the payoff table shown next, giving the estimated profit when a retailer purchases from one to four dozen T-shirts. The probability of demand for each state of nature is also shown. PAYOFF TABLE Future Demands 2 3 Probabilities of demands 0.2 0.4 0.3 0.1 Purchase Quantitiest Demand + 1 2 3 4 1 120 120 120 120 2 240 240 240 3 120 | 360 | 360 240 480 -120 4 -240 What is the maximum potential payoff under conditions of certainty? Multiple Choice 360 240 120 < Prev 39 of 50 Next >
Multiple Choice
360
240
120
480
Transcribed Image Text:Multiple Choice 360 240 120 480
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