Lisa Is Trying to Decide on the Location of Her

question 81

Multiple Choice

Lisa is trying to decide on the location of her entrepreneurial venture - Flower Power, a specialty wedding flower service. She has three possible locations (A, B,C) in mind. Lisa has projected that in the first year of operation, under ideal conditions, her company would generate $80,000 at Location A, $55,000 at Location B, and $45,000 at Location C. However, after further analysis, Lisa has determined that there is only a 20 percent chance of ideal conditions occurring during the first year of operation in Location A. Locations B and C have a .4 and a .8 probability, respectively, for ideal conditions during the first year of operations. Based on this information, the expected value for Location A is ________, while for Location B it is ________.

• A) $400,000; $137,500
• B) $16,000; $22,000
• C) $64,000; $33,000
• D) $96,000; $77,000
• E) $320,000; $82,500

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Definitions:

Followership Perspective

A viewpoint focusing on the role and behaviors of followers in the leadership process, rather than solely on leaders.

Challenging Ideas

Ideas that question conventional wisdom or the status quo, often prompting reconsideration or debate on a given topic.

Followership Typology

A classification system that categorizes types of followers based on their behavior, level of engagement, and attitude towards leadership.

Common Purpose

A shared goal or mission that unites members of a group, team, or organization, motivating them to work collectively towards achieving it.