Question

B.F. Retread, a tire manufacturer, wants to select one of three feasible prototype designs for a...

B.F. Retread, a tire manufacturer, wants to select one of three feasible prototype designs for a new tire; A, B, C.

Revenues

Low (0.30)

Medium (0.50)

High (0.20)

A

120,000

255,000

390,000

B

130,000

295,000

460,000

C

100,000

300,000

480,000

Calculate the highest value you would pay for a highly reliable forecast.

Math   Statistics-And-Probability   
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Revenues Low (0.30) Medium (0.50) High (0.20) A 120,000 255,000 390,000 B 130,000 295,000 460,000 C...
Revenues Low (0.30) Medium (0.50) High (0.20) A 120,000 255,000 390,000 B 130,000 295,000 460,000 C 100,000 300,000 480,000 Determine the maximum expected payoff. Group of answer choices $276,000 $285,000 $241,500 $278,500
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