An Operations Manager's Staff Has Compiled the Information Below for Four

question 58

Essay

An operations manager's staff has compiled the information below for four manufacturing alternatives (E,F,G,and H)that vary by production technology and the capacity of the machinery.All choices enable the same level of total production and have the same lifetime.The four states of nature represent four levels of consumer acceptance of the firm's products.Values in the table are net present value of future profits in millions of dollars.Forecasts indicate that there is a 0.1 probability of acceptance level 1,0.2 chance of acceptance level 2,0.4 chance of acceptance level 3,and 0.3 change of acceptance level 4.
Using the criterion of expected monetary value,which production alternative should be chosen?

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Definitions:

Gray Market

The trade of goods through distribution channels that are legal but unintended by the original manufacturer.

Parallel Exporting

The practice of unofficially distributing products through channels that are not authorized by the original manufacturer, often across national borders.

Unauthorized Retailers

Sellers or outlets that distribute products without the official permission or authorization of the original manufacturer or trademark owner.

Dumping

The practice of selling a product in a foreign market at a price below its production cost.