question archive The Miramar Company is going to introduce one of three new products: a widget, a hummer, or a nimnot
Subject:FinancePrice:4.87 Bought7
The Miramar Company is going to introduce one of three new products: a widget, a hummer, or a nimnot. The market conditins (favorable, stable, or unfavorable) will determine the prodit or loss the company realizes, as showing in the following payoff table.
Market Conditions |
|||
Favorable |
Stable |
Unfavorable |
|
Product |
.2 |
.7 |
.1 |
Widget |
$120,000 |
$70,000 |
$-30,000 |
Hummer |
60,000 |
40,000 |
20,000 |
Nimnot |
35,000 |
30,000 |
30,000 |
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