Two new product designs are to be compared on the basis of revenue potential. Marketing believes that
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Two new product designs are to be compared on the basis of revenue potential. Marketing believes that the revenue from design A can be predicted quite accurately to be \(\$ 3\) million. The revenue potential of design B is more difficult to assess. Marketing concludes that there is a probability of 0.3 that the revenue from design \(\mathrm{B}\) will be \(\$ 7\) million, but there is a 0.7 probability that the revenue will be only \(\$ 2\) million. Which design do you prefer?
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Related Book For
Applied Statistics And Probability For Engineers
ISBN: 192504
7th Edition
Authors: Montgomery, Douglas C., Runger, George C.
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