(Answered) Suppose that the management of theme park inc has decided

Management Studies

Suppose that the management of Theme Park, Inc., has decided that there is a .35 probability that the motel"s application will be approved.

a. If management uses maximum expected monetary value as the decision criterion, which alternative should it choose?

. Represent this problem in the form of a decision tree.

c. If management has been offered the option of a temporary lease while the town planning board considers the motel"s application, would you advise management to sign the lease? The lease will cost $24,000.

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