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Suppose you have a choice between two policies (A&B) and that the relevant market may subsequently be strong or weak. If you pursue policy A, a weak market will bring a return of 3, and a strong market 10. If you select B, a weak market will bring a return of 5 and a strong market .of 7. Draw the decision tree . A. What is the best policy by the expected value criterion if the p(weak) =0.7?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M93135558

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