Julie Is Planning to Open a Restaurant and Is Considering

question 11

True/False

Julie is planning to open a restaurant and is considering two possible locations.She has estimated the payoff for each location for each of three different possible levels of restaurant popularity (state of nature)as shown below. Using the maximax criterion she should choose location 2.

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Definitions:

Evaluative Listening

An active listening technique where the listener analyzes the message, judges its content, and decides on its potential utility or applicability.

Active Listening

The practice of fully concentrating, understanding, responding, and remembering what is being said.

Credibility

The quality of being trusted and believed in; the ability to inspire confidence.

Source Acceptance

The extent to which the information provided by a source is accepted as credible or convincing by a recipient.