Question: Jim has estimated that the probabilities of demand for 200

Jim has estimated that the probabilities of demand for 200, 400, 600, and 800 boxes of Christmas cards are 0.30, 0.25, 0.35, and 0.10 respectively.
a. Choose the best order quantity using this probability data.
b. What is the most that Jim should pay for additional information about the holiday demand for Christmas cards?

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  • CreatedJuly 29, 2015
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