Sometimes it is possible for a company to influence the uncertain outcomes in a favorable direction. Suppose
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Sometimes it is possible for a company to influence the uncertain outcomes in a favorable direction. Suppose Acme could, by an early marketing blitz, change the probabilities of "great," "fair," and "awful" from their current values to 0.75, 0.15, and 0.10. In terms of EMV, how much would the company be willing to pay for such a blitz?
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Business Analytics Data Analysis and Decision Making
ISBN: 978-1305947542
6th edition
Authors: S. Christian Albright, Wayne L. Winston
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