Refer to the data on Expected Demand for Acme Widgets. Based on the Hurwicz criterion, what is the payoff for the “outsource” option if you used the coefficient of realism of 0.6?
a. $45.20 million
b. $16.44 million
c. $57.00 million
d. $33.42 million
a. $45.20 million
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Indicate whether the statement is true or false.
From 1972 to 1974, the expected real interest rate on short-term bonds averaged about +2 percent, but the realized real interest rate averaged about ?2 percent. The main reason for the difference was that
A. actual inflation was about 4 percentage points lower than expected inflation. B. actual inflation was about 4 percentage points higher than expected inflation. C. a monopoly cornered the market on short-term bonds. D. nominal rate of interest was zero.
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