Use the payoff matrix to determine the best strategy.A clothing manufacturer must decide which of two clothing lines to emphasize for the spring season, her usual line or a budget line. Her success with each line depends on the state of the economy next year. She estimates the payoff matrix to be as follows:StrongIn-betweenWeakEconomyEconomyEconomy
Economists believe that there is a 5% chance of a strong economy next year, a 75% chance of a weak economy, and a 20% chance of an in-between economy. What is the manufacturer's best strategy?
A. Wait and see
B. Emphasize the usual line
C. Emphasize the budget line
Answer: C
Mathematics
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