A Retailer Is Deciding How Many Units of a Certain

question 86

Multiple Choice

A retailer is deciding how many units of a certain product to stock.The historical probability distribution of sales for this product is 0 units,0.2;1 unit,0.3;2 units,0.4,and 3 units,0.1.The product costs $8 per unit and sells for $25 per unit.What is the conditional value for the decision alternative "Stock 3" and state of nature "Sell 1"?

• A)1.4 units
• B)$1 profit
• C)$25 profit
• D)$-8 profit
• E)$23.80 profit

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Definitions:

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