The campus bookstore sells stadium blankets embroidered with the university crest.The blankets must be purchased in bundles of one dozen each.Each blanket in the bundle costs $65,and will sell for $90.Blankets unsold by graduation will be clearance priced at $20.The bookstore estimates that demand patterns will follow the table below.
a.Build the decision table.
b.What is the maximum expected value?
c.How many bundles should be purchased?
Definitions:
Gross National Product
The total value of all goods and services produced by a country's residents and businesses, including those produced abroad, over a specific time period.
National Income
The total amount of money earned within a country, including wages, rent, interest, and profits.
U.S. GDP
The total monetary value of all goods and services produced within the United States in a specific time period.
U.S. GNP
Gross National Product of the United States, a measure of economic performance that includes the value of all goods and services produced by the nation's residents, regardless of the production location.
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