Question: 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
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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