Given the Payoff Table Below, Determine the Expected Value and Size

question 121

Multiple Choice

Given the payoff table below, determine the expected value and size of warehouse that would be
Built, given a probability of 0.7 and 0.3 to the high and low demands, respectively.

• A) $8 million, small warehouse
• B) $5 million, medium warehouse
• C) $18.7 million, large warehouse
• D) $12 million, medium warehouse
• E) $22 million, large warehouse

---

Definitions:

Group Forms

Describes the various structures and shapes that a group of individuals can organize themselves into, for different purposes and functions.

Autocratic

A leadership style where decision-making is centralized in the leader, with little to no input from subordinates, often leading to a hierarchical decision-making process.

Participative

Involving or allowing all members of a group to be involved in planning or decision-making.

Redefining Stage

A phase in group development where members reassess their tasks and relationships, leading to adjustments in group structure or objectives.