Explain what is the most that should be paid for forecast, Operation Management

Assignment Help:

Nick has plans to open some pizza restaurants, but he is not sure how many to open. He has prepared a payoff table to help analyze the situation. States of Nature Alternatives Good Market Fair Market Poor Market Open 1 380,000 70,000 -400,000 Open 2 200,000 80,000 -200,000 Do nothing 0 0 0 Nick believes there is a 40 percent chance that the market will be good, a 30 percent chance that it will be fair, and a 30 percent chance that it will be poor. A market research firm will analyze market conditions and will provide a perfect forecast (they provide a money back guarantee). What is the most that should be paid for this forecast?


Related Discussions:- Explain what is the most that should be paid for forecast

Identify the business level strategy of walmart corporation, Looking at Wal...

Looking at Walmart Corporation, identify it's Business Level Strategy. Short paper format about 100-300 words or as needed.

Explain panel interviewing and its strengths and weaknesses, You're going t...

You're going to have to stretch your imagination for this question:. Assume you're involved in a panel interview team. Identify one strength and one weakness in this interview appr

Describe opportunities to improve the system, Define the product you will b...

Define the product you will be offering at College Pretzel Company (CPC) in detail. Create any necessary documentation such as an engineering drawing or a bill of material for the

Describe what are the different types of strategies, What are the different...

What are the different types of strategies? What are the differences among these strategies? How do you determine which type of strategy is most appropriate for your organization?

Explain corporate strategic alliance, Business-level, Corporate-level, and ...

Business-level, Corporate-level, and International Strategies Using the Internet, research about the following: • Globalization • International strategic alliances • Co

Case study, what are the most significant events in the story of how the pl...

what are the most significant events in the story of how the plant survived because of its adoptation of quality based principles?

Explain product development, Explain product development. Product Devel...

Explain product development. Product Development is an activity that involves design or redesign and fabrication of modified or new product and after that testing this to find

Explain current business operating on a global scale, Introduce a new speci...

Introduce a new special form of insurance for current business operating on a global scale with a diverse work force, which includes virtual employees.

Explain state licensure requirement, Discuss state licensure requirements t...

Discuss state licensure requirements that an organization must comply with in order to become a Medicare Advantage Plan, any exceptions to the State licensure requirement, and any

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd