Should this service be purchased

Assignment Help Management Theories

Reference no: EM133237722

Question: Do part a and b of the Higgenbottom Skis problem.

a. Historical records show that 60 percent of the winters in the Rocky Mountains are snowy. How many pairs of skis should the ski shop order?

b. The Rocky Mountain Weather Service Company claims that they can supply a perfect long-range weather forecast for $500. The forecast is based not only on historical trends but also on the scientific extension of present-day weather patterns. Should this service be purchased?Use this payoff table


	Snowy	Not Snowy
2000K	60000	60000
3000K	90000	50000
4000K	120000	40000

ALSO, calculate EVPI

Reference no: EM133237722

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