Solve the problem.A company has three different marketing strategies that produce different results depending upon whether inflation is above 6%, between 3% and 6% inclusive, or below 3% annually. The experts cannot predict inflation for the next year. The company has three plans of action and will implement these at varying percentages of its total operation. The payoff matrix for these three plans is given below, with values given in hundred thousands. What is the market strategy for the company that will yield the best expected value? 

A. The company should use Plan 1 with probability 1, Plan 2 with probability 0, and Plan 3 with probability 0.
B. The company should use Plan 1 with probability 0, Plan 2 with probability 1, and Plan 3 with probability 0.
C. The company should use Plan 1 with probability 5/13, Plan 2 with probability 0, and Plan 3 with probability 8/13.
D. The company should use Plan 1 with probability 1/3, Plan 2 with probability 1/3, and Plan 3 with probability 1/3.


Answer: C

Mathematics

You might also like to view...

Graph the equation as a solid line. Graph the inverse relation as a dashed line on the same axes by reflecting across the line y = x.y = x2 + 1

A.

B.

C.

D.

Mathematics

Find the zero of the linear function.G(x) = -8x - 48

A. -6 B. 6 C. 40 D. -40

Mathematics

Solve.The face-off areas in ice hockey have a diameter of 29.6 ft. Find the area of a face-off circle. Use 3.14 for ?. Round to the nearest tenth, if necessary.

A. 2751.1 sq ft B. 687.8 sq ft C. 92.9 sq ft D. 343.9 sq ft

Mathematics

Find the distance between the pair of points. Where appropriate, give an approximation to three decimal places.(-340,1358) and (1038, -418)

A.  ? 1908.240
B.  ? 1668.078
C.  ? 2247.901
D.  ? 1170.813

Mathematics