A firm is considering the decision of investing in new plants.The following is the profit payoff matrix under three conditions: it does not expand,it builds two new plants,or it builds one new plant.Three possible states of nature can exist--no change in the economy,the economy contracts and the economy grows.The firm has no idea of the probability of each state. 
What decision would be made using the equal probability rule?
Definitions:
Complex Language
Language that is intricate and complicated, often characterized by a high level of vocabulary, abstract concepts, or technical jargon.
Analytical Reports
Documents that analyze information or data and often recommend a course of action.
Perceived Problem
An issue that is recognized or identified based on subjective understanding or interpretation.
Government Compliance
Adherence to laws, regulations, guidelines, and specifications relevant to business operations or activities.
Q2: overallocation of resources in an industry means
Q13: A municipal water utility employs quasi-fixed capital
Q18: The managers of Alpha and Beta must
Q22: Sport Tee Corporation manufactures T-shirts bearing the
Q55: Firms that employ exceptionally productive resources<br>A)have lower
Q72: A process selected for reengineering should be
Q72: Using the information in Table A.2,which alternative
Q84: Mantel Incorporated began producing its new line
Q122: The earliest start time for an activity
Q132: A plan that identifies key threats to