A family business is considering making an investment in its manufacturing operation.Three decisions are under consideration: (1) a large investment; (2) a medium investment;and (3) a small investment.The business believes that there are three possible future outcomes for its product: (1) increasing demand; (2) stable demand;and (3) decreasing demand.The business believes that the probability for increasing,stable and decreasing product demand are 0.4,0.5,and 0.1,respectively.The following payoff table describes the decision situation.
If the expected value criterion is used then the best decision would be to
Definitions:
Software-Defined Infrastructure
An approach to data center management that allows policy-based control of compute, storage, and networking components.
Bank of America
One of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses, and large corporations with a full range of banking, investing, asset management, and other financial and risk management products and services.
Dial-Up Internet
A form of internet access that uses a telephone line to connect to the internet, characterized by slower speeds compared to broadband connections.
Broadband Internet
An Internet connection that remains on at all times, delivering faster performance than standard dial-up access.
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