The National Sales Manager for "I Colored This" (ICT) T-Shirts

question 92

Multiple Choice

The national sales manager for "I colored this" (ICT) T-shirts provides all salespersons with the payoff table shown next, giving the estimated profit when a retailer purchases from one to four dozen T-shirts. The probability of demand for each state of nature is also shown. How many dozen "I colored this" T-shirts should be purchased to yield the highest payoff?

• A) 1
• B) 2
• C) 3
• D) 4

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Definitions:

Training

The process of enhancing the skills, capabilities, and knowledge of employees for the purpose of improving job performance.

Capital

Capital refers to financial assets or physical resources that are used in the production of goods and services, including machinery, buildings, or money invested.

Workforce

The group of people who are engaged in or available for work, either in a country or a firm.

Economic Efficiency

A condition in which all resources are allocated in a way that maximizes the total benefit to society or minimizes waste.