A company is choosing which of three new products to make $(A, B$ or $C$ ) and
Question:
A company is choosing which of three new products to make $(A, B$ or $C$ ) and has calculated likely pay-offs under three possible scenarios (I, II or III), giving the following pay-off table.
Required:
Using maximax, which product would be chosen?
Transcribed Image Text:
Profit (loss) Scenario Product chosen A B C 20 80 10 II 40 70 100 III 50 (10) 40
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